February 2011 China Cotton Import Monthly Report

Business Club March 17th In February 2011, affected by tight supply, falling dollar, and other factors, international cotton prices continued to rise strongly, hitting record highs. As the price of cotton continues to soar, and annual resources are declining, transactions in the international spot market tend to be deserted. China's cotton import prices exceeded domestic prices by nearly 8,000 yuan/ton, and during the Spring Festival holiday, cotton imports continued to decline.

According to customs statistics, China imported 184,000 tons of cotton in February, a decrease of 207,000 tons from January, a decrease of 53%, and a decrease of 16.7% from the same period of last year; the average import price continued to rise, for the first time exceeding US$3,000/ton to reach US$3011. / Ton, up 179 US dollars from January, or 6.3%. In the first two months of 2011, 576,000 tons of imported cotton were imported, a year-on-year increase of 10.22%. In the first six months of 2010, imports totaled 1.46 million tons, an increase of 36.2% year-on-year.


In the same month, except for a slight increase in the import volume of imported materials processing methods, the import volume of all other methods dropped significantly. Among them, a total of 120,000 tons of general trade methods were imported, a 46% decrease compared to the previous period, accounting for 65.4% of the total trade volume, still ranking first; the special logistics area for customs supervision imported 27,000 tons of cotton, a month-on-month reduction of 73.9%, and the share decreased to 14.7%; imports of processing and trade methods were imported 25,000 tons, an increase of 4.1% from the previous quarter, and their share increased to 13.6%; imports and exports of goods by bonded inspection sites were 12,000 tons, down by 70.8% from the previous month, and the share was 6.4%; The processing method of imported materials was 7 tons, a decrease of 99.2% from the previous month, and the share was less than 0.1%.


Among the average import prices of various trade methods, general trade and processing of incoming materials rose, while the remaining three methods declined slightly. The highest average price is still the processing method of incoming materials, which is 4,000 US dollars / ton, up 23% from the previous month; followed by the feed processing, which is 3,093 US dollars / ton, but fell 2.5% from the previous month; general trade is 3,056 US dollars / Ton, up 11.6% from the previous month; Customs special supervision areas of logistics goods for the 2863 US dollars / ton, down 2.9% from the previous month; the lowest is the way of bonded goods import and export of goods, the average price of 2723 US dollars / ton, The year-on-year decrease was 4.4%.



Among the major importing countries, the United States has again become the largest source country, India ranks second, and Uzbek is the third. In the same month, China imported 112,000 tons of cotton from the United States, which was a decrease of 26.1% from the previous month and accounted for 61% of the total imports. From India, a total of 40,000 tons of cotton was imported, which was 80% lower than last month, accounting for 21.7% of the total import volume; Imported from Uzbekistan was 19,000 tons, an increase of 15.3%, and the share increased to 10.5%.



The price of cotton in various countries continued to rise this month, with the largest increase among the three largest source countries. The highest average price was Uzbekistan, which was US$3,454/ton, up 7.5% from the previous month. The average import price of Indian cotton was US$3,160/ton, up by 10.5% from the previous month; US cotton was US$2,838/ton, up 3% from the previous quarter.

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