MUMBAI (Commoditiescontrol) - China cotton imports during the first 9 month of 2015 (Jan-Sept) dropped 42 percent at 1.16 million tonnes compared with same period a year ago, said China Cotton Association.
The fall in imports were attributed to thin price difference between domestic and overseas. Ample cotton stocks in China has also attributed to fall in imports.
Beijing has sought to cut imports since 2014 to stimulate demand for domestic cotton after it halted a state stockpiling programme that had previously bought up most of the Chinese crop.
It has said it will in principle issue no more than the 894,000 tonnes of quota it has committed to under World Trade Organisation rules.
The industry is urging Beijing to offer additional quotas in return for purchasing old cotton stored in the state reserves.
(By Commoditiescontrol Bureau; +91-22-40015533)
0 Comments 
Post Comment 
