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Spread between domestic and imported cotton widens
30
Sep '09
China's cotton price in August was influenced by slight decline in international cotton price, due to which domestic cotton price increased and the spread between domestic markets and overseas markets widened.

From the point of FOB price, the average price of international cotton when converted into domestic prices, stood at 9,679 Yuan per ton, 3,454 Yuan lower than domestic cotton price.

From the view of CIF price, average monthly price of imported cotton price index (FC Index M, equivalent to China's cotton grade 328) was 66.3 cents per lb and when converted into an after-tax price based on 1 percent tariff it touches 11,598 Yuan per ton, again, 1,535 Yuan lower than domestic price and the spread enlarged by 111 Yuan from the previous month.

When converted in to an after-tax price based on sliding tariff, the landing price of imported cotton works out to 12,863 Yuan per ton, 270 Yuan lower than domestic price. The spread has also expanded 146 Yuan from the previous month.

Fibre2fashion News Desk - China

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