Zhejiang: Import Cotton Price Volume Falls

Affected by the debt crisis in Europe and America, the commodity market has fallen sharply.

Cotton as an important global commodity

According to customs statistics of Hangzhou, Zhejiang imported 111 thousand tons of cotton in the first 3 quarters of 2011, a decrease of 9.1% over the same period in 2010.

In the first 3 quarters, Zhejiang imported 82 thousand tons of cotton and increased by 1.9% in general trade mode, which is the main trade mode of Zhejiang's cotton imports.

The United States and India are the 2 largest cotton import markets in Zhejiang, and imports in the first 3 quarters have declined.

Statistical analysis expert Ge Yibo believes that the cotton import volume and price drop phenomenon is related to the improvement of market supply.

Cotton planting area increased in 2011 as a result of the rise in seed cotton purchase price in last year, the increase in cotton farmers' income and the state's policy of temporarily collecting and storing the market and stabilizing market expectations.

At the same time, the supply situation of the international market has improved.

According to the US Department of agriculture, the world's major cotton production has increased to varying degrees in 2011, and the world's cotton output is 26 million 910 thousand tons, an increase of 2 million 50 thousand tons over the previous year, coupled with an increase in stock level and a marked improvement in supply and demand, leading to the recent fall in import prices.