Home / Business / Textile Tools: Save | Print | E-mail | Most Read | Comment
Less cotton imported at higher cost in Jan-Nov. 2007
Adjust font size:

China imported 2.14 million tonnes of cotton in the first 11 months of last year, a decline of 37.2 percent from the same period of the previous year, sources with the General Administration of Customs said on Wednesday.

But the import price of each tonne of cotton averaged 1,394.3 U.S. dollars, up 4.4 percent. In November alone, the average price rose 11.2 percent to 1,507.9 U.S. dollars per tonne.

The imports were valued at 2.98 billion U.S. dollars, down 34.4 percent, reflecting the decline in the imported amount.

The sources attributed the imports decline largely to increasing domestic production and dampened demand from downstream enterprises.

The central government earmarked 500 million yuan (70 million U.S. dollars) last year as subsidies for farmers to buy improved cotton seeds. The move raised enthusiasm to expand areas sown with cotton and improve growing technology.

China was estimated to yield a record total of 7.22 million tonnes of cotton last year, up 7.3 percent year on year.

Thanks to improved transport, shipments out of Xinjiang Uygur Autonomous Region, a major cotton production base, increased 50 percent from the previous year. This helped ease shortage in coastal regions.

Meanwhile, demand remained lukewarm among textile enterprises, which suffered export earnings decline due partly to lowered tax rebates and appreciation of Chinese currency.

According to the customs sources, of the total cotton imports between January and November 2007, general trade made up for 895,000 tonnes, down 49.7 percent, and processing trade, 474,000 tonnes, down 15.2 percent.

Up to 651,000 tonnes was imported by state-owned enterprises, down 55 percent, 509,000 tonnes by private businesses, down 18.4 percent, and 465,000 tonnes by foreign-funded companies, down 16.5 percent.

The United States and India were the major cotton suppliers for China, accounting for 70.6 percent of China's total cotton imports.

(Xinhua News Agency February 27, 2008)

Tools: Save | Print | E-mail | Most Read
Pet Name
China Archives
Related >>
- Cotton yield hits record high in 2007
- China's cotton imports down substantially in first 10 months
- China's largest cotton base expects major output growth
Most Viewed >>
- China-Sudan oil cooperation transparent
- A busy year for Airbus in China
- Stop large new issues, firms told
- China's movie revenue up 25% for 5 straight years
- Finnish companies grow steadily with China

May 15-17, Shanghai Women's Forum Asia
Dec. 12-13 Beijing China-US Strategic Economic Dialogue
Nov. 27-28 Beijing China-EU Summit

- Output of Major Industrial Products
- Investment by Various Sectors
- Foreign Direct Investment by Country or Region
- National Price Index
- Value of Major Commodity Import
- Money Supply
- Exchange Rate and Foreign Exchange Reserve
- What does the China-Pakistan Free Trade Agreement cover?
- How to Set up a Foreign Capital Enterprise in China?
- How Does the VAT Works in China?
- How Much RMB or Foreign Currency Can Be Physically Carried Out of or Into China?
- What Is the Electrical Fitting in China?