The China Cotton Association reported on Monday that due to the lack of import quotas for textile mills, China’s May cotton import fell to 502,000 tons in May, the world’s largest fiber-consuming country, and dropped for the third consecutive month. According to the association, according to customs data, imports in May may be 1.5% lower than the 51,000 tons imported in April.
However, the total arrival volume in the current market year (September-August) was more than doubled last year, reaching 4.25 million tons. Dealers said that after Beijing issued an additional import quota of 1 million tons in May, imports may resume in the coming months, which will help textile mills purchase lower-cost overseas cotton.
Industry insiders expect that cotton imports in 2012/13 will be reduced to 3 million tons due to sufficient domestic inventory, and consumption is expected to reach 8.5 million tons. China will release the final cotton import figures on Thursday. Traders and analysts said they did not hear that China National Cotton Reserve Corps had started new cotton purchases. A company spokesperson declined to comment on whether the company imported US cotton to increase inventory.
However, the total arrival volume in the current market year (September-August) was more than doubled last year, reaching 4.25 million tons. Dealers said that after Beijing issued an additional import quota of 1 million tons in May, imports may resume in the coming months, which will help textile mills purchase lower-cost overseas cotton.
Industry insiders expect that cotton imports in 2012/13 will be reduced to 3 million tons due to sufficient domestic inventory, and consumption is expected to reach 8.5 million tons. China will release the final cotton import figures on Thursday. Traders and analysts said they did not hear that China National Cotton Reserve Corps had started new cotton purchases. A company spokesperson declined to comment on whether the company imported US cotton to increase inventory.
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