In January 2012??new seasonal quota started entering market. Though China??s monthly cotton import slipped sharply than previous month, the amount was still higher than most months in 2011. The average price kept falling, but not as fast as before. Over half of the deal is general trade. In all source countries, India kept ranking the first and almost dominated half of China??s import. 2012 yearly tariff quota has been allocated and instantly increasing the tariff quota consumption to over 80% in January??s import. Part of the sliding duty quota also entered market but only took less than 20%. Non-quota trade is limited.
According to customs statistics, China totally imported 326,500 ton cotton in January, 463,900 ton less than December 2011, with a drop of 58.7%. Comparing with last January, it also reduced 64,000 tons, a decrease of 16.6%. The average import price was $ 2,401 per ton, $ 75, or 3% down than December 2011, a decrease of 15.3% than last January. In 2011/12 season (from September 2011 to January 2012), China has already imported 2 million tons of cotton; 724,000 tons more than the same period last year, an increase of 56.7%.
In trade mode, only goods processed with customer\'s materials and products from bonded area under supervision gained increase, the rest means of trade all slipped sharply. General trade still took dominance in the field, the trade of goods from areas under special customs supervision climbed to the second.
Comparing the source countries, India, U.S.A and Uzbekistan are the top three. India almost takes half of all China??s import. U.S.A keeps expanding its share. Uzbekistan is the only country gained increase in import amount, surpassing Brazil to the third.
According to the average price in different trade modes, the goods of the general trade and from areas under special customs supervision, as the top two trade mode in amount, dropped in January, and the rest three went up. In detail, goods processed with customer\'s materials rose by 9.5% to ,000/ton. The goods of general trade and from areas under special customs supervision dropped 2.2% and 4.6% each.
Considering the price of different sourcing countries, U.S.A. is the highest of all and keeps climbing. The average price of import U.S. cotton is ,760/ton, increased by 6.3% comparing with December 2011. Australia dropped by 1% to .611/ton. India reached ,262/ton, 5% decreased than last month.
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