CHINA: Decline in Cotton Imports Raising Cotton Prices

China is witnessing a decline in cotton imports for the second month that is driving up cotton prices although the government is willing to sell some of its stock pile and increase the import quota by one million tons, according to a report in Cotton International.

The 177,000 metric tons imported in June represented a drop of 11% from the previous month and a 45 percent drop since April.

China’s State Council has upped the 2010 import quota to 3.6 million tons, with year-to-date imports standing at more than 1.5 million tons. The government also plans to sell 600,000 tons from its inventories to cool the scorching price increases.

Those same price increases are fueling an expansion in Indian cotton production (even though bigger crops in India and other major cotton exporters such as the United States could increase the global supply and drive down prices in the future).

Farmers in India, the world’s second-largest cotton importer, have been watching prices rise across the globe but especially in China, the world’s largest importer.

Approximately 57% of the Indian cotton exported from October 1, 2009 through July 15, 2010 was sent to China. To take advantage of the favorable economic conditions, Indian farmers planted 8.3 million hectares of cotton as of July 15, a 20% increase over the previous year.

Send your News/Releases for publication to [email protected]
Added: July 23, 2010 Source: Commodity Online
Start script - 1553523594.5724 Start news id check - 1553523594.5725 After news id check - 1553523594.5728 After cookie_code - 1553523596.3095 Before news detail - 1553523596.3095 After news detail - 1553523596.31 Start cat select - 1553523596.3101 After cat select - 1553523596.3103 before preg replace - 1553523596.3103 After preg replace - 1553523596.3103 Before tag engine - 1553523596.3103 After tag engine - 1553523596.315 Before mptt engine - 1553523596.315 After mptt engine - 1553523596.315 Before related engine - 1553523596.315 After related engine - 1553523596.3175 Before update hits - 1553523596.3176 After update hits - 1553523596.3177 After update news_hits - 1553523596.3235 After mem_only_views - 1553523596.3235 -------------------------------------------------- Total Exec time:- 1.7510998249054
AddThis Social Bookmark Button   Tell a friendBookmark AddThis Feed Button
Related News:

Website design by InWiz • © - 2000-2019. Internet Wizards All rights reserved. About usTerms & ConditionsDisclaimerPrivacy policy • 25-03-2019