This year import of cotton has been higher. According to China Customs, country imported 259,000 tons of cotton in August, up 13.1 percent than previous month. Yet, in the first eight months of this year, around 1.66 million tons of cotton was imported, showing a plunge of 45.1 percent than the same period of last year.
Provinces, in order to cope up with the rising prices and higher imports, are opting for internal trading. By the end of August, around 2.61 million tons of cotton from SinKiang was transported to other provinces like Shandong.
With the early arrival of new cotton in the market by mid-September, purchases have begun. Prices are around RMB 0.6 per kilogram higher than last year. Buyers of this cotton are mainly small enterprises.
However, during this month, exports of textile products maintained a higher growth. Country earned US $18.09 billion, up 19.2 percent than same month last year.
From January to August this year, the export value of Chinese textile and apparel touched $109 billion, 19.3 percent higher than the same period of last year.
Fibre2fashion News Desk - China
marketing@alchempro.com
