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Volume of cotton imports decline, price shoots up
24
Oct '09
According to customs statistics, in September 2009, China imported 102,200 tons of cotton, a decline of 6.88 percent from the previous month, down 20.8 percent year on year, totaling to US $149 million, which was a decline of 5.57 percent from the previous month, and down 32.37 percent, year on year.

September average price of cotton imports continued to rise and the average import price was $1,462 per ton, an increase of 1.4 percent from the previous month, but down 24.6 percent year on year. From January to September this year, China imported a total amount of 1.078 million tons of cotton, down 692,000 tons or a reduction of 39.1 percent year on year.

The proportion of cotton imports from the United States continued to enlarge, while that from India sharply rebounded, while Australian share remained stable and shares of African countries declined slightly.

September cotton imports from the United States reached 45,500 tons, accounting for 44.5 percent of total imports, up 3.1 percent compared to August. Imports from India came to 19,400 tons, accounting for 18.9 percent of total imports, up 13.5 percent from the previous month.

Imports from Australia fetched 10,300 tons, accounting for 10.1 percent of total imports; imports from Burkina Faso, Benin, Mali, Zambia, Cote d'Ivoire, Senegal and other African countries totaled 22,700 tons, accounting for 22 percent of total imports, down 3.7 percentage points from the previous month.

From the angle of average import price of major countries, import prices from most countries were higher than August except the United States. Price from the United State was $1,507 per ton, the highest among the top 10 importing countries, followed by prices from Australia at $1,503 per ton, up 2 percent.

Import price of cotton from Zambia was the lowest at $1,224; price from India averaged at $1,407 per ton, up 4 percent from August; price from Uzbekistan stood at $1,386 per ton, up 11 percent compared with August.

In September, the proportion of processing trade with imported material was more than 50 percent and still accounted for the largest share. Re-exports from bonded warehouses continued to increase, entry and exit amount from bonded warehouse declined, the proportion of general trade fell further.

In September, China's cotton imports for processing trade registered 54,000 tons, accounting for 53.2 percent of total imports, the proportion rose nearly 13 percentage points from the previous month. Cotton imports in general trade mode stood at 3,652 tons and accounted for 3.6 percent, down 11.2 percent from the previous month.

Fibre2fashion News Desk - China

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