MUMBAI (Commoditiescontrol) - Cotton imports by China in July fell 62.3 percent to 105,700 tons from a year ago period, as per customs data. The fall in imports by the wold’s top cotton consumer is largely attributed to the government’s decision to limit the country’s import quotas in an effort to boost demand for domestic fibre.
China’s imports are already down down by 33 percent this year to less than 1 million tons.
Currently, the country is auctioning its reserve cotton stock to mills at daily, that began 10th July, 2015. Till date, China has sold around 51,460.1223 tons. Today, it put up 51441.9496 tons cotton, of which it sold 2067.1217 tons, only 4.02 percent of total offered quantity.
It holds an estimated 11 million tons of cotton in state reserves, around half of the world's stocks, after it bought up more than 80 percent of the domestic crop between 2011 and 2013 to support growers.
(By Commoditiescontrol Bureau; +91-22-40015532)
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