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China - price gap of cotton raises concern in textile industry

China - price gap of cotton raises concern in textile industry Source:
Date: 05-02-2013
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The gross output value of 37,000 textile enterprises with annual turnover more than 20 million yuan or above has amounted to 5.7 trillion yuan in 2012, up 12 percent, according to information released by the China National Textile and Apparel Council (CNTAC).

The total profit in the first eleven months achieved 246 billion yuan, and the annual profit growth rate is about 4 percent.
Wang Tiankai, president of the CNTAC, said the main problem of textile industry is the big price gap of cotton at home and abroad. “If the current cotton system remains unchanged, pure cotton clothes may become luxury items in the next few years,” Wang added.
Affected by the domestic management, the cotton price in China is 45 percent higher than the international market at the end of 2012. Imported cotton is 13,000 yuan per ton, but the cotton price of China’s nation stocks reached 19,000 yuan per ton,” said Gao Yong, vice president of the CNTAC.
The high cotton price domestically and the limitation of imported cotton seriously affect the world competitiveness of cotton spinning industry chain. Gao said the export value in the first eleven month last year declined about 9 percent.   
China’s market share of textile industry in the global market declined in 2012. It accounted for 73 percent and 40 percent in the European Union and Japan’s importing market, decrease 1.8 percent and 1.1 percent respectively.
Wang Tiankai believed that how to reduce the cotton price gap at home and abroad effectively from the policy level and relieve the competitive pressure of cotton spinning industry will be the key factor of the textile industry.
Currently, the processing capacity of textile fiber in China is 43 million tons per year, but the percentage of cotton products is on the decrease. With the growing population, urbanization and the industrialization, people’s consumption demand of clothing and other textile is ascending. The price of cotton products is likely to climb higher under this situation.
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