First half of the national cotton yarn import profile

Driven by the cotton target price policy, domestic cotton prices have fallen, and domestic and foreign cotton price gaps have narrowed. The heat of domestic enterprises on imported cotton yarns has gradually faded. From January to June, the total value of textile and apparel imports nationwide was US$ 12.97 billion, which was a year-on-year increase of 2.9%; of which cotton yarn imports accounted for 24.1%, and imports decreased negatively, down 0.8% year-on-year to US$ 3.12 billion.

The characteristics of cotton yarn imports in the first half of this year are as follows:

1. From January to June 2014, the increase in total imports of cotton yarns in China slowed down significantly.

From January to June, the total imports of cotton yarns totaled 0.988 million tons, an increase of only 2.3%, a significant slowdown from the 45.8% increase in the same period of last year, and negative growth in the first half of the year. Among them, 181,000 tons in January, down 0.6% year-on-year; February imports decreased from January to 153,000 tons, but increased 49.8% from the same period last year; March imports were 178 million tons, down 10.7% year-on-year; April imports were 182,000. Ton, an increase of 11%; May and June imports hit new record lows this year, at 152,000 tons and 141,000 tons respectively, down 11.3% and 3.3% year-on-year respectively.

2. From a single month's perspective, the unit price of imported cotton yarns basically rose in the first half of the year and declined year-on-year.

In the first six months, the average price of imported cotton yarn was US$3.16/kg, down 3.1% year-on-year. The unit price of imports has risen since February of this year. In February, it was US$3.08/kg, down 1.2% year-on-year; in March and April, it was US$3.17/kg, with declines of 1.5% and 4% respectively; in May, it further increased to 3.18 US$/ Kg, down 4% year-on-year; unit price in June hit a new high this year, at $3.21/kg, down 2.7% from the same period last year.

Third, China's import of cotton yarn from India has slowed down, and imports from Vietnam are enjoying a good momentum.

India, Pakistan, and Vietnam are the top three source markets for cotton yarn imports. This year, China's cotton yarn imports from India have slowed down, and imports from Pakistan have shown negative growth. Imports from Vietnam have shown good growth. From January to June, China’s imports of cotton yarn from India accounted for 29% of total imports, which was 286,000 tons, an increase of 6.6%; the average import price was 3.1 US dollars/kg, down 3.8% year-on-year. Imported 239,000 tons of cotton yarn from Pakistan, accounting for 24.2%, down 20.5% year-on-year; average import price was 2.8 US dollars/kg, down 4.4%. Vietnam ranked third with 16.7 million tons imported, accounting for 16.9% of the total. The growth momentum was relatively impressive. It increased by 64.5% over the previous six months; the average import price was 3.24 USD/kg, down 10.4% year-on-year.

Among the top 10 sources of imports, Uzbekistan is the fastest-growing country with an increase of 115.4% and imports of nearly 35,000 tons. Indonesia and South Korea increased by 41.3% and 8.2% respectively, and the import volume was 38,000 tons and 16,000 tons, respectively. In January-June, imports from the United States and Thailand were all 19,000 tons, down 40.9% and 4.2% from the same period last year.

4. Guangdong is the 1st largest province for cotton yarn imports, but imports are negative.

In January-June, there were 3 provinces and cities importing more than 100,000 tons of cotton yarns, accounting for 60.9% of the total, of which Guangdong's import growth was negative, imports were 288,000 tons, down 17% year-on-year, and import unit price was US$3.46/kg. 0.6%; Zhejiang imports 167,000 tons, an increase of 16.9%, the import price of 2.99 US dollars / kg; Beijing imports 148,000 tons, down 8.5%, the import price of 2.91 US dollars / kg. Shanghai, Jiangsu, and Shandong imported 92,000 tons, 87,000 tons and 82,000 tons, respectively, and the growth slowed down by 18%, 16.5%, and 31.7% respectively; Fujian imported 51,000 tons, up 7.2% year-on-year; Anhui and Xinjiang increased by 100% respectively. And 127.9%.