Cotton imports to decline for ongoing fiscal year
Source: Fibre2fashion News Desk - India Date: 2008-05-12
Imports of cotton by China are likely to decline during the fiscal year 2007 which ends in August 2008.
This is largely because, the stagnant textile industry of the country will require lesser yarn and therefore smaller quantity of imports.
An official of China Cotton Association told Fibre2fashion, “Chinese consumption in 2007-08 will amount to 4.28 million tons and mill’s import of cotton in the next five months may touch 1.48 million tons. Cotton area will increase by 1 or 2 percent in the next season. China cotton price will not change greatly until the new crop circulates in the market.”
Moreover, the total cotton imports in the fiscal year may stand at 2.6 million tons, which is below the expected 2.8 million tons. India surpassed the United States as China's largest cotton supplier in fiscal 2007.
China grew 5.59 million hectares of cotton and harvested 7.6 million tons of the fiber in the 2007 fiscal year.
