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Chinese cotton imports in May dip sharply
26
Jun '10
In May, U.S. dollar exchange rate continued to rise due to the impact of the debt crisis in Europe, international commodity prices came down, but cotton prices maintained turbulence at high-level, supported by fundamentals of tight supply and demand.

In late May, China released 800,000 tons of cotton import quota. In May, cotton imports in the month sharply declined compared to previous two months. Among major source countries, the US remained in the first place; cotton imports from India declined, but still ranked the second place.

According to customs statistics, China imported 198,000 tons of cotton in May, representing a substantial reduction of 38.9 percent from April, but up 30.6 percent over the same time last year. Import prices continued to rise, set another new high, monthly average marked US $1786 / ton, up 1.8 percent from April, and 45 percent year on year.

In the first five months of 2010, China's total cotton imports reached 1.368 million tons, up 1.4 times year on year. In the first nine months of 2009-10 cotton year, total cotton imports completed 1.918 million tons, up 85.1 percent year on year.

Fibre2fashion News Desk

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