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Domestic demand fails to push cotton imports
Detail
Despite of sharp decline in cotton prices in international market and increasing domestic prices, imports of the cotton witnessed a year-on-year drop of 60%. In January 2007, cotton imports stood at 123,000 tonnes, a decrease of 59.1% compared to same period last year. The major factors, which affected the imports, are limited tariff quotas for domestic textiles enterp-
rises. In domestic factories, average price of local standard-class cotton was 12,948 Yuan per ton in January, a surge of 1.1% from December last year. On cotton, National Development and Reform Commission has imposed import tariff quota of 894,000 tonnes. During this period, textile and garment exports reached US $12.14 billion, a year-on-year increase of 18.6%. Moreover, textile and garment exports touched US $144 billion last year, up 25.2% over 2005.
 
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