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Cotton production projected to touch 7.8 mn tons

24
Nov '08
According to an estimate of China Cotton Association, China's total cotton production will be 7.8 million tons in 2008 and during September-October 2008, China's total cotton imports registered 225,000 tons, down 39 percent year-on-year.

Growth in textile production and exports continued to slow down; total yarn output reached 3,770,000 tons, up 8.8 percent year-on-year, but growth rate dropped by nearly 2.4 percentage points. Textile and garment exports totaled US $34.8 billion, up 6.7 percent from the same time last year, but year-on-year growth rate fell 16 percentage points.

Demand for cotton in domestic market still remains low as current trade volume in cotton market is small due to which cotton price continues to drop. All this has happened due to a poor demand from down stream industries more particularly from the export sector. This has led to the average price of standard-class cotton being quoted at Yuan 12,760 per ton, down 5.7 percent year-on-year.

Fibre2fashion News Desk - China


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