In July, China imported 411,171 bales (89,522 MT) of cotton, an increase of 23.77 percent month-on-month (m/m), and a decrease of 5.61 percent year-on-year (y/y).
The U.S. was ranked as the second largest cotton supplier to China in July, while Australia was ranked first, and India fifth. Although the imports from Australia increased rapidly in July, US cotton hit 52.73% to China’s total imports from January to July, while Australia registered 13.3% in total.
This month, China has decided to extend the 2016-2017 cotton reserve auction to September 29th, aiming to maintain stable market supply and cotton prices while the textile industry waits for the 2017-2018 cotton harvest to make it to market, which is similar to the government’s decision to extend last year’s auction.
For more details, please see the attached report.