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Import of cotton perks up in February
21 Feb '09
1 min read
Normal operations have resumed in most of the companies after the completion of the spring festival in China. As predicted by experts, demand for raw materials like petrochemicals as well as cotton has perked up in the last few days, on expected lines.
Irrespective of the fact that, imports of cotton by China in the month of January, fell drastically, imports in February are slowly picking up pace, compared to the previous month. The main reason being shortage of high quality cotton in the markets.
It may be recalled that the state has initiated a massive cotton procurement programme to shore up cotton prices as well lift stocks from farmers, in the process of which it has procured nearly 2.72 million tons of cotton from across the country.
This has invariably led to an artificial shortage of good and high quality cotton in the markets, compelling the needy textile mills to import the same. Most of the textile units are working at normal operating rates, since they resumed work after the holidays.
Irrespective of the fact that, imports of cotton by China in the month of January, fell drastically, imports in February are slowly picking up pace, compared to the previous month. The main reason being shortage of high quality cotton in the markets.
It may be recalled that the state has initiated a massive cotton procurement programme to shore up cotton prices as well lift stocks from farmers, in the process of which it has procured nearly 2.72 million tons of cotton from across the country.
This has invariably led to an artificial shortage of good and high quality cotton in the markets, compelling the needy textile mills to import the same. Most of the textile units are working at normal operating rates, since they resumed work after the holidays.
Fibre2fashion News Desk - China
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