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China boosts yarn imports from pakistan

China boosts yarn imports from pakistan Source:
Date: 06-11-2012
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The International Cotton Advisory Committee (ICAC) has said that a geographical shift in cotton mill use from China to other Asian countries is currently underway but estimating its actual extent will take time when cotton consumption figures in other countries are available, according to a statement. 

The ICAC said that cotton yarn imports by China have increased significantly since the beginning of 2012. 

The ICAC Secretariat estimates that cotton mill use will increase in 2012-13 in India, Pakistan, Bangladesh, Uzbekistan, Indonesia, Vietnam and Thailand. 

However, global economic growth is expected to remain slow, affecting retail purchases of textile products, it said, adding that global cotton mill use is also influenced by the weakening spinning sector in China. 

High local cotton prices against the rest of the world have hurt the profitability of Chinese spinning mills. 

According to the ICAC, general outlook for cotton supply and use for 2012-13 is bleak: global cotton production and mill use are forecast at 25.9 million tons
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