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Cotton imports in January fall drastically
Feb '09
According to customs statistics, in January 2009, China imported 78,000 tons of cotton, worth US $108 million, down 53.7 and 57.9 percent in volume and value respectively from December 2008 and fell by 50.1 and 55.5 percent in volume and value from the same period last year. The import price in January witnessed a sharp fall, averaging at $1387 per ton, down 9.1 percent from the previous month and 10.9 percent year-on-year.

In January, from amongst importing countries, shipments from the United States reached 60,000 tons, accounting for 76.6 percent of the total imports, an increase of nearly 15 percent from the previous month. Imports from India fell to only 5,800 tons, accounting for only 7.4 percent, down 14 percent from the previous month and shipments from Brazil, the second largest country from which cotton is imported, accounted for 7.8 percent of total imports, an increase of 3 percent from the previous month.

In case of import prices, the average import prices stood at $1274 per ton from Brazil $1386 per ton from the US, $1385 per ton from India, $1660 per ton and the highest from Kazakhstan, $1403 per ton from Australia, $1235 per ton from Mali, $1263 per ton from Mexico and $1281 per ton from Cameroon. From among all imports, 90.1 percent of cotton shipments were under quota based tariffs, 5.5 percent under floating tariffs and the rest 4.4 percent under general imports.

Fibre2fashion News Desk - China

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