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China's cotton imports surge in November
14 Dec '11
1 min read
A sharp rise has been witnessed in Chinese cotton imports during November mainly owing to the Government stepping up its purchases for state reserves.
China shipped in 378,200 tons of cotton during November this year, indicating a year-on-year rise of 199.6 percent.
In the current year till November, China's overall cotton imports totalled 2.57 million tons, registering a year-on-year rise of 8.4 percent.
The world's largest cotton consumer raised its imports after cotton prices in global markets fell considerably from historic highs during the first part of the year.
It is estimated that the Chinese Government has purchased around 0.8 to 1 million tons of cotton to replenish the dwindling state reserves.
Another aim behind the Government's move to increase its reserves is to boost prices of domestic cotton and thereby to safeguard the interest of the farmers.
China shipped in 378,200 tons of cotton during November this year, indicating a year-on-year rise of 199.6 percent.
In the current year till November, China's overall cotton imports totalled 2.57 million tons, registering a year-on-year rise of 8.4 percent.
The world's largest cotton consumer raised its imports after cotton prices in global markets fell considerably from historic highs during the first part of the year.
It is estimated that the Chinese Government has purchased around 0.8 to 1 million tons of cotton to replenish the dwindling state reserves.
Another aim behind the Government's move to increase its reserves is to boost prices of domestic cotton and thereby to safeguard the interest of the farmers.
Fibre2fashion News Desk - China
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