Cotton Demand May Reach 11mn Tons This Year
Source: Fibre2fashion Date: 2007-04-20
Cotton output in 2006 reached an all-time high of 6.73 million tons. Abundant supply has decreased cotton imports.
Textile production in 2007 is expected to remain at a steady growth. Yarn output in March 2007 rose, sharply. Cotton demand is likely to reach 11 million tons, this year.
However, affected by a number of adverse factors, the growth rate of China’s textile and apparel exports will slow down.
The state will release additional import quotas soon in a balanced pace depending on the market situation and cotton demand of enterprises.
According to the statistics from China Cotton Association, as of the end of March this year, cotton procurement progress of 2007 already reached 95 percent.
Cotton acreage in 2007 is estimated at 81.50 million mu (one hectare = 15 mu), up 520,000 mu over last year, an increase of 0.64 percent.
