At present, cotton has become China's third largest imported agricultural product after soybeans and edible vegetable oil.
According to customs statistics, Guangdong ports imported 201,000 tons of cotton in 2006, worth US $270 million, increasing 3.1 percent and 10.2 percent, respectively, over 2005. The average import price was $1314 per ton, up 6.9 percent.
The main features of cotton imports by Guangdong ports are as follows:
Imports were mainly from the US, Australia and India
In 2006, Guangdong ports imported 78,000 tons of cotton from the US, down 18.6 percent. Cotton imports from Australia and India were 48,000 tons and 35,000 tons, respectively, up 44.5 percent and 2.5 percent.
Cotton imports from these three countries together were 161,000 tons, accounting for 80.1 percent of the total imports by Guangdong ports.
Imports were mainly in the mode of general trade.
In 2006, Guangdong ports imported 124,000 tons cotton in mode of general trade, up 5.5 percent, accounting for 61.7 percent of the total imports by Guangdong ports.
Cotton imports in mode of processing trade were 42,000 tons, down 24.3 percent.
Cotton imports in mode of cargo storage and re-export in Bonded Area were 27,000 tons, and by means of import and export goods from bonded warehouses were 8,000 tons, representing a growth of 87.8 and 5.1 percent, respectively.
Import quantity changed with price fluctuation and the average import price hiked.
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