Business Club September 23 News August, China's cotton imports reached 20.7 million tons, an increase of 32%. The monitoring data shows that in the 2010-2011 cotton season, domestic cotton prices have dropped to 2,000 yuan/ton or even lower.
According to customs statistics, in August of this year, China’s cotton imports continued to rebound, reaching 207,000 tons, an increase of 500,000 tons compared with July, a chain growth of 32%, and an average import price of US$3025 per ton. Compared with July, it decreased by US$85/ton, which was a decrease of 2.7% from the previous eight months. In the first eight months of this year, China’s total cotton imports reached 1.69 million tons.
According to insiders, since last year, the cotton price in the cotton industry's value chain has dropped, causing serious problems. Increasing cotton import quotas is one of the most important ways to mitigate this impact.
Domestic and foreign cotton are approaching the cotton season in 2010-11 (September 2010 to August 2011), and domestic cotton prices have experienced roller coaster-type lifting.
According to information monitoring, from September last year to early November, the price of cotton rose by 67% in less than two and a half months and a large agricultural bull market emerged. In February of this year, the price of cotton rose to 30,000 yuan/ton, which was the highest in history. At that time, the spot price and price of cotton began to decline, reaching a minimum of 19,800 yuan/ton, and the difference between domestic and foreign cotton prices reached 6000–7000 yuan/ton. Both domestic and foreign cotton prices have declined, prompting the difference between domestic and foreign cotton prices to be reduced to the current 2,000 yuan/ton, or even less.
The cotton storage center said on September 14 that the notice issued in August showed that although China’s cotton imports continued to rebound, the price dropped to US$3,100/ton, which was reported to China in the September Cotton Supply and Demand Report recently announced by the US Department of Agriculture. High cotton forecast was given in the 2011-12 cotton season, while in the same period last year, China’s cotton imports were estimated at 11.98 million bales.
Customs data shows that in the first half of this year, China’s garment exports increased by more than 20% year-on-year.
According to customs statistics, in August of this year, China’s cotton imports continued to rebound, reaching 207,000 tons, an increase of 500,000 tons compared with July, a chain growth of 32%, and an average import price of US$3025 per ton. Compared with July, it decreased by US$85/ton, which was a decrease of 2.7% from the previous eight months. In the first eight months of this year, China’s total cotton imports reached 1.69 million tons.
According to insiders, since last year, the cotton price in the cotton industry's value chain has dropped, causing serious problems. Increasing cotton import quotas is one of the most important ways to mitigate this impact.
Domestic and foreign cotton are approaching the cotton season in 2010-11 (September 2010 to August 2011), and domestic cotton prices have experienced roller coaster-type lifting.
According to information monitoring, from September last year to early November, the price of cotton rose by 67% in less than two and a half months and a large agricultural bull market emerged. In February of this year, the price of cotton rose to 30,000 yuan/ton, which was the highest in history. At that time, the spot price and price of cotton began to decline, reaching a minimum of 19,800 yuan/ton, and the difference between domestic and foreign cotton prices reached 6000–7000 yuan/ton. Both domestic and foreign cotton prices have declined, prompting the difference between domestic and foreign cotton prices to be reduced to the current 2,000 yuan/ton, or even less.
The cotton storage center said on September 14 that the notice issued in August showed that although China’s cotton imports continued to rebound, the price dropped to US$3,100/ton, which was reported to China in the September Cotton Supply and Demand Report recently announced by the US Department of Agriculture. High cotton forecast was given in the 2011-12 cotton season, while in the same period last year, China’s cotton imports were estimated at 11.98 million bales.
Customs data shows that in the first half of this year, China’s garment exports increased by more than 20% year-on-year.
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