China : Jiangsu ports double cotton imports this year

Cotton imports of Jiangsu ports have increased this year. According to Nanjing Customs statistics, Jiangsu imported 310,000 tons cotton in total from January to October, valued at US $410 million, representing 1.8 times and 1.9 times respectively over the corresponding period last year.

It has been learned that cotton imports of Jiangsu ports are mainly from the US, Uzbekistan and India. The import volume of the three countries account for 87 percent of the total imports. The US occupies the largest volume, with a total quantity of 197,000 tons, up by 1.3 times.

Regarding the price, the average import price for the first 10 months was US $1330 per ton, rising 4.7 percent over the same time last year, of which, the import price in October reached up to $1415 per ton, the highest level for a single month this year.

China has about 4 million tons gap in cotton demand this year. The price of local growth is about 1000 yuan per ton higher than the imported cotton, so import demand has been strong. By September and October, new local cotton arrived in the market and the price gap between domestic cotton and foreign cotton narrowed, and cotton imports started to decline.
 
 
Fibre2fashion, News Desk - China