Although textile industry of China has met unprecedented problems, the results in the first half of 2008 still showed a visible growth. From September 2007 to July this year, total yarn output reached nearly 19.30 million tons, showcasing a year-on-year increase of 10.96 percent.
Taking into account, that upheaval in the market will directly affect actual demand of cotton in 2008, the yarn growth rate of China's textile industry is temporarily forecasted at five percent in the year of 2008. This is expected to take the annual yarn output to around 22 million tons this year.
Based on China's actual cotton consumption per ton for yarn in the past two years and guaranteed reasonable stocks, it has been calculated that actual usage is expected to touch 11.1 million tons in 2008.
Market insiders are of the opinion that, as in the past few years, cotton yield had not been able to fulfill the country's total demand, in the current fiscal it is more likely that state reserved cotton will also be utilized. Thus it is expected that cotton shortfall will be at least more than 2.6 million tons in 2008 and to meet the ever rising demand of consumers, China has to rely mainly on imports.
Fibre2fashion News Desk - China
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