Home / Knowledge / News / Textiles / US cotton farmers make hay, while China foots the bill
US cotton farmers make hay, while China foots the bill
10
Sep '10
Cotton price has increased by as much as 2,000 Yuan, in a short span of one and a half months, and now the price stands at record high of above 18,000 Yuan / ton. Analysts point out that, US cotton farmers have harvested most profits, while Chinese textile enterprises foot the bill.

In the recently conducted cotton reserves auction, when converted in to prices of grade 328 cotton, they stood at a record high of 18,398 Yuan / ton on September 1.

Along with release plan of 600,000 tons of cotton reserves, of which almost 50 percent has been completed, the country is also importing high volumes of cotton, mainly from the US.

Customs statistics reveal that China's total cotton imports reached 1.712 million tons from January to July this year, an increase of 847,000 tons year on year, representing a growth of 97.6 percent.

As of July, China's total imports in the 2009-10 cotton year, achieved 2.265 million tons, an increase of 927,000 tons or 69.4 percent year on year.

China's cotton imports are expected to grow 29 percent to 3.1 million tons in the new 2010-11 cotton season, said the Secretary-General of the International Cotton Advisory Committee (ICAC), in his latest monthly report.

The US cotton farmers stand to gain the most from increase in prices. The ICAC expects that, US cotton production will increase by 52 percent to four million tons and its cotton exports will significantly increase by 27 percent, due to which the American cotton farmers are expected to earn nearly US $10 billion more from increased exports and prices.

Fibre2fashion News Desk

Must ReadView All

Textiles minister Smriti Irani at a press conference with minister of state for textiles, Ajay Tamta, the principal director general (M&C), PIB, AP Frank Noronha and other dignitaries. Courtesy: PIB

Apparel/Garments | On 23rd May 2017

Special package for knitwear coming soon: Irani

Union textiles minister Smriti Irani said that the government of...

Apparel/Garments | On 23rd May 2017

Apparel, footwear use may rise by 63% in 2030: Report

The apparel and footwear consumption is projected to rise by 63 per...

Apparel/Garments | On 23rd May 2017

Gap Inc earns $3.4 bn in net sales in Q1 FY17

Gap Inc's net sales for the first quarter of fiscal year 2017 were...

Interviews View All

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search