According To The Statistics Of The General Administration Of Customs Of China, China'S Cotton Import Decreased Significantly Year On Year

According to the statistics of the General Administration of customs, in March 2022, China imported about 210000 tons of cotton, an increase of 20000 tons compared with February, but a year-on-year decrease of 26.5%; Since 2021/22 (from September 2021 to March 2022), China has imported 1million tons of cotton, a year-on-year decrease of about 48.5%.

Some cotton related enterprises and speculators said that the sharp rise of ice cotton futures contracts in March led to the cold inquiry / transaction of bonded American cotton, Brazilian cotton, West Africa cotton, Indian cotton, etc., but also that the bonded cotton in port was in a state of "low price and little market", and the phenomenon of "import exceeding export" in cotton warehouse was prominent, Therefore, it is expected that the import volume in March will decline significantly compared with the same period. According to the judgment of cotton enterprises in Shandong, Jiangsu and other places, the transaction and implementation of the on-call point price contract with a certain range of 112-120 cents / pound in July of ice in the first ten days of March, as well as a small number of cotton textile enterprises and traders entering the market below 120 cents / pound to take goods are the key reasons for the obvious reduction of import volume on a year-on-year basis.

According to the survey, the price of bonded Indian cotton m 1-5/32 29gpt at the port recently rose to 153.20-154.90 cents / pound (CCI turns out resources in 2019/20 and 2020/21), while the price of bonded Brazilian cotton m 1-1/8 was 156-158 cents / pound (the one-time price of some Brazilian cotton special offers was only 148-150 cents / pound), The price of African cotton (such as Mali, Burkinabe, etc.) sm 1-1 / 8 28gpt is concentrated at 156.5-157.8 cents / pound. Therefore, from the perspective of cost performance, Indian cotton is at an obvious disadvantage, and shipment is more difficult than cotton from other origins.