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China cotton import monthly report – november, 2013

China cotton import monthly report – november, 2013 Source:
Date: 23-12-2013
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By the end of November, reserve release during the new season was launched. Import cotton offers were welcomed by mills and sold out quickly, while domestic cotton had around 50% transaction percentage. As the New Year approaches, cotton import quotas will run out of validity, therefore import increased largely at slightly higher average price, for the first time higher than last annual average price. Around two thirds of the import is under sliding duties. The trade mode of general trade takes 40.7% of the total share. Australia cotton leads again at 45%, followed by 13% from U.S., and 10% from Brazil. Qingdao, Shanghai and Nanjing were the main port destination. And Jiangsu, Shandong and Beijing imported most of the cotton.
According to Customs, in November China imported cotton of 173,100 ton, 32,000 ton more and 22.6% up over the month, while 43% less than last November. The average import price was 2,236 USD/ton, 53 USD up over the month, 2.4% up over the month. The cumulative import from January to November 2013 is 3,541,000 ton, 23.1% less over the corresponding time last year; the first three months import in 2013/14 cotton season is 515,600 ton, 38.5% less than the same time period last year.
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