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China’s total cotton imports is expected to reach 5.3 million tons

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In June 2012, China imported 476,000 tons of cotton, an increase of 356,000 tons, an increase of 296.6% y/y ;From September 2011 to June 2012, China imported a total of 4.729 million tons of cotton, an increase of 2.518 million tons, an increase of 113.9% y/y .

According to the research of the China Cotton Network reporters in major ports, Peak season for foreign cotton was outdated . And the import quotas for textile companies basically run out. Cotton imports will be reduced in the late of this year. However, now the spread between domestic cotton and foreign cotton is still large, since July remained at the level of 4000 yuan / ton, textile companies are still tend to foreign cotton. So in the next two months, cotton import volume reduction will be limited.

Based on historical data from 2003 to 2010, the average cotton imports in July and August were 207,000 tons and 221,000 tons. The data reached its maximum in July and August of 2005,up to 290,000 tons and 286,000ton respectively. The cotton imports showed a trend of the “blowout” in this year. The data may be higher than the average, may even beyond 2005, is expected to not less than 30 tons. China’s total cotton imports this year is expected to reach about 5.3 million tons, to make an new record.

For the countries, from September 2011 to May 2012, India, the United States, Australia, Brazil and Uzbekistan were the major countries of the cotton exports. To our country, total exports of 1.738 million tons, 0.993million tons, 0.374million tons, 0.332million tons and 0.242million tons of cotton, respectively. Accounting for 86.5% of the total of China’s cotton imports in the same period.

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