Cotton imports decrease significantly in Q1

15 May '08

2 min read

According to Customs Statistics, in first quarter of 2008, total cotton imports of China reached nearly 5,28,000 tons and the nation had to spend approximately US $840 million, decrease of 4 and 24.8 percent, when compared to the same period last year.

Monthly average price of cotton imports was about $1,500 per ton since November 2007. However, average price in Q1 this year was at $1,589 per ton, an increase of 19.6 percent. March cotton import volume reduced significantly by reaching almost 2,13,000 tons, down by 17.7 percent. The average price of imports advanced to $1,630 per ton, up by 3.2 percent from the previous month and a year-on-year increase of 22.8 percent.

China mainly imported cotton from India and US, the two countries together accounted for 81.3 percent of total cotton import of the country in the first quarter.

China cotton imports from India reached nearly 2,95,000 tons, an increase of 13.3 percent and from US it came up to almost 1,34,000 tons, a substantial boost of 42.7 percent.

The import reached 2,63,400 tons by the month of April, a rise of 50,200 tons or 23.53 percent from the previous month, and representing a rise of 48,400 tons or 22.46 percent from the same time of 2007.

As of last month, total cotton import of the nation scored 1.588 million tons in 2007-08, an increase of 2,50,700 tons or 18.74 percent from the corresponding period a year ago.

Fibre2fashion News Desk - China

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