China Cotton Import Monthly Report - February, 2014

During the month of February, high international cotton price and the Spring Festival suspension in production drove cotton import downward at higher average price. The import quota under 1% tariff climbed to nearly 80%; among different trading means, bonded areas import was more 50% as the majority; India cotton toped for 60%, followed by U.S. of 29%; Tianjin and Dalian are the main destination ports; while Shandong, Jiangsu and Beijing are the heaviest importers.
According to Customs statistics, in February, China imported cotton of 246,100 ton, 46,400 ton less over the month, down by 15.9% and 35% less than last February; the average import price was 2,006 USD/ton, 15 USD up over the month, 0.8% up, and 6.8% up than last February. The first six months import volume in 2013/14 season totaled 1,662,700 ton, 24.7% less over the corresponding time last year. The first two months import in 2014 was 538,500 ton, 35.6% less Y/Y.