Cotton market heading for recovery - ICAC
03/06/2015
In 2011/12, Chinese imports more than doubled from the previous season to 5.3 million tons and surpassed the total volume of imports by the rest of world, which reached only 4.4 million tons. However, in the following seasons, Chinese imports declined while imports outside of China have steadily grown.
In 2014/15, imports outside of China are likely to increase 6% to 5.9 million tons, but will not offset the 45% decline in Chinese imports to 1.6 million tons.
As a results world imports are projected down 12% to 7.5 million tons in 2014/15.
However, in 2015/16 world cotton imports may recover modestly, increasing 2% to 7.7 million tons with imports outside of China rising by 3% to 6.1 million tons. Bangladesh, Vietnam and
Indonesia are expected to be the three largest importers outside of China in 2015/16 due to the continued growth in their spinning sectors that rely primarily on imported cotton.
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