China Import Cotton Monthly Report, January, 2014

Both the Spring Festival Holiday and advanced import in December contributed to import volume decline in January. 2014 cotton quota came into effect since this month, therefore, nearly 70% of the monthly import was under 1% tariff. Trading modes were divided in similar shares, except processing by accepting customers’materials. India kept to be the top origin, taking for more than 60%. Top two tort destinations were Tian Jin and Shijiazhuang, with buyers mostly from Shandong, Jiangsu and Beijing.

According to Customs, in January 2014 China imported cotton of 292,500 ton, 316,100 ton less over the month, 51.9% down by percentage, while 36.1% less than last January. The average import price was 1,991 USD/tonne, 111 USD less over the month, down by 5.3%; and up by 6.7% Y/Y. The first five months import of 2013/14 cotton season was 1,416,700 ton, 22.5% less than the corresponding time last season.