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China's cotton imports fall to record low in September

  • Categories:Industry News
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  • Time of issue:2024-08-22
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(Summary description)China imported 50,900 metric tons of cotton (11,915, -90.00, -0.75 percent) in September, down 58.6 percent year-on-year and the lowest monthly level since at least 2005, according to customs data published on an industry website, Sina Reuters said on BST 15.

China's cotton imports fall to record low in September

(Summary description)China imported 50,900 metric tons of cotton (11,915, -90.00, -0.75 percent) in September, down 58.6 percent year-on-year and the lowest monthly level since at least 2005, according to customs data published on an industry website, Sina Reuters said on BST 15.

  • Categories:Industry News
  • Author:
  • Origin:
  • Time of issue:2024-08-22
  • Views:0

China's cotton imports fall to record low in September

China imported 50,900 metric tons of cotton (11,915, -90.00, -0.75 percent) in September, down 58.6 percent year-on-year and the lowest monthly level since at least 2005, according to customs data published on an industry website, Sina Reuters said on BST 15. 

  China is the world's top cotton consumer, but imports have fallen sharply this year as the government adjusted an agricultural support policy last year and subsequently narrowed the gap between international and domestic cotton prices. 

  The narrowing spread reduced incentives for companies to make international purchases, as there was already a large domestic supply. 

  China Cotton Association (CCA) announced on Wednesday that cotton imports decreased by 42% to 1.16 million tons from January to September this year. 

  In addition, a reduction in this year's low-tariff import quota is also one of the reasons for the decline in imports, a move aimed at stimulating demand for domestic cotton. 

  Traders expect that some of this year's unused quotas will be reallocated this month, and imports could see a rise in the final quarter of the year. 

But unlike in previous years, demand from textile companies has been sluggish, with many mills temporarily shutting down during the October Golden Week holiday, cotton trader Reinhart said in a weekly report. (END) 

 

Yulun (Vietnam) Spinning Weaving Dyeing Co., Ltd. is a large-scale textile enterprise and a multinational company, which has been established for more than 70 years. The main products of the group are cotton, pure chemical fiber, blended, bamboo four series of more than 60 varieties of yarn, as well as a variety of fine-count high-density fabrics, high-grade blended interwoven fabrics and other blank fabrics.