According to customs statistics, China imported 3.055 million tons of cotton in the first half of this year, 1.3 times more than that in the same period of last year. The value was 7.2 billion US dollars, an increase of 78.9%; the average import price was 2358 US dollars per ton, down 22.3%.
In the first half of the year, China's cotton imports exhibited "volatility in price increases" mainly due to the following two major reasons: First, global cotton stocks continued to rise, leading to the decline in international cotton prices. Due to the impact of supply oversupply and weakening economic demand, global cotton stocks continued to rise. According to the July report of the International Cotton Advisory Committee (ICAC), global stocks in 2012/2013 are expected to increase by 10% to 15.1 million tons. By the end of July 2013, global cotton stocks will account for 64% of consumption, and the stock consumption ratio The highest since the mid-1980s. High inventory gives the current international cotton price a heavy pressure, which in turn lowers the price of imported cotton.
Secondly, the obvious advantage of imported cotton prices and the positive effect of cotton purchasing and storage policies have stimulated the desire of enterprises to import. As the price gap between domestic and foreign cotton continues to widen, the price advantage of imported cotton has become even more apparent, prompting the import of cotton to show a “blowout†trend in the first half of this year. Data shows that on June 27, China's cotton price index was 328 yuan to 18,207 yuan/ton, and the import cotton price index for M-grade cotton was priced at 13707 yuan/ton and 14217 yuan/ton under the 1% tariff and sliding tariff tax, respectively. The difference in domestic cotton prices was 4,500 yuan/ton and 3,990 yuan/ton respectively. At the same time, due to the support of the country's cotton purchase and storage prices, the purchasing power of cotton companies is relatively strong, which has contributed to the surge in cotton imports in the first half of this year.
In the first half of the year, China's cotton imports exhibited "volatility in price increases" mainly due to the following two major reasons: First, global cotton stocks continued to rise, leading to the decline in international cotton prices. Due to the impact of supply oversupply and weakening economic demand, global cotton stocks continued to rise. According to the July report of the International Cotton Advisory Committee (ICAC), global stocks in 2012/2013 are expected to increase by 10% to 15.1 million tons. By the end of July 2013, global cotton stocks will account for 64% of consumption, and the stock consumption ratio The highest since the mid-1980s. High inventory gives the current international cotton price a heavy pressure, which in turn lowers the price of imported cotton.
Secondly, the obvious advantage of imported cotton prices and the positive effect of cotton purchasing and storage policies have stimulated the desire of enterprises to import. As the price gap between domestic and foreign cotton continues to widen, the price advantage of imported cotton has become even more apparent, prompting the import of cotton to show a “blowout†trend in the first half of this year. Data shows that on June 27, China's cotton price index was 328 yuan to 18,207 yuan/ton, and the import cotton price index for M-grade cotton was priced at 13707 yuan/ton and 14217 yuan/ton under the 1% tariff and sliding tariff tax, respectively. The difference in domestic cotton prices was 4,500 yuan/ton and 3,990 yuan/ton respectively. At the same time, due to the support of the country's cotton purchase and storage prices, the purchasing power of cotton companies is relatively strong, which has contributed to the surge in cotton imports in the first half of this year.
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