China'S Cotton Imports Will Decline In 2015/16

In the past two months, the market worried that China's cotton demand weakened, leading to a sharp fall in international cotton prices.

Foreign analysts say that the sharp reduction in China's cotton imports is very bad for international cotton prices, which is less than expected and the demand has been decreasing.

The US Department of agriculture will release the latest update on Friday (September 11th).

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In the August forecast, USDA expects us cotton exports to be 2 million 177 thousand tonnes, the lowest in 15 years.

Last week, Barclays Bank of England said that by 2018, China might stop importing cotton and become a net exporter of cotton in the following year because of the increasing competition in the international market and the decline in chemical fiber prices, leading to shrinking domestic textile production.

US agricultural Counsellor's latest report shows that China's cotton consumption is reduced and

Increased export competition will prompt the Chinese government to continue to digest cotton reserves, and China's cotton imports will fall to its lowest level in 13 years in 2015/16.

According to the report, 2015/16 China

Output dropped to 5 million 500 thousand tons, down 15.4% from the same period last year, resulting in a 19% reduction in cotton planting area and a fall in target prices.

Although cotton consumption is expected to increase slightly to 7 million 500 thousand tons, cotton imports will be reduced to 1 million 250 thousand tons, down 31% from the same period last year, the lowest level in 13 years, mainly due to the limited import quota of cotton and the import of cotton yarn by textile mills.

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From the China Chemical Fiber Industry Association, the association is entrusted with the Ministry of industry and commerce. The association is formulating the "13th Five-Year development plan" of the chemical fiber industry (short for "planning").

The association said that in 13th Five-Year, the differential rate of products will be increased to 65%, the effective capacity of high-performance fibers will reach 260 thousand tons, and the proportion of new products in the whole industry will increase from the current 20% to more than 28%.

The replacement rate of bio based materials will be increased to 2%.

According to the established work plan, before the end of this month, the association will conduct consultation, consultation, argumentation, revision, improvement and finalization of the planning report.

According to the association, during the "12th Five-Year" period, China's chemical fiber industry continued to develop rapidly, and its comprehensive competitiveness increased significantly. In 2014, chemical fiber production was 43 million 897 thousand tons, accounting for nearly 70% of the world's total. Chemical fiber became the main raw material of China's textile industry, accounting for 80.4% of the textile fiber processing volume.

Chemical fiber and downstream processing industry has also become the most important export earning industry in China's textile industry.

It is noteworthy that the structural overcapacity caused by extensive development, the gap between some high-tech fibers and developed countries, the low added value of products and the lack of independent innovation brands are also evident in the development of China's chemical fiber industry.

According to the association, by the end of 13th Five-Year, China's chemical fiber production will reach 55 million tons, with an average annual growth rate of 3.6%, which will be much lower than the average annual growth rate of 9.2% in 12th Five-Year.

This means that the output of chemical fibre will only increase by 8 million tons in 13th Five-Year, and the capacity will increase by only 6 million tons.

Therefore, controlling the new capacity and increasing the operating rate will be one of the important goals of 13th Five-Year.

The Association believes that the development of the chemical fiber industry has been unable to continue to rely on the volume of growth in the past, but to carry out pformation and upgrading, to R & D, design, brand, marketing, services and other aspects of the extension, production mode to flexible, intelligent, digital, refined, green production pformation.

According to the plan, it is an important goal to accelerate the research and breakthroughs in industrialization of high-performance fibers during the "13th Five-Year" period.

High performance fiber is a kind of fiber material with high tensile strength, compression strength, friction resistance, high destructive resistance and low specific gravity (g/m3). It is a kind of special fiber that has developed rapidly in the field of fiber polymer materials in recent years.

The development of high performance fibers is a manifestation of the comprehensive strength of a country and an important material foundation for building a modern power.

High performance fiber composites are important raw materials for the development of national defense industry, aerospace, new energy and high technology industries. They are also widely used in building, communication, machinery, environmental protection, marine development, sports and leisure, and other national economic areas.

In the ten major areas identified in "made in China 2025", seven fields are closely related to high-performance fibers.