Chinese Cotton Imports Plummet 37.1% Between Jan & Aug
China imported around 858,000 tons of cotton in the first eight months of 2023, down 37.1 percent from a year ago period.
“In the 2022-23 cotton season, China imported around 1.425 million tons of cotton, also down 17.6 percent compared to the 2021-2022 season,” data of Chinese Customs informed.
In the 2022-2023 cotton season, the country’s cotton output rose to 6.622 million tons, up 14.7 percent year on year.
The China Cotton Association has forecast that cotton production will drop in the 2023-24 season
Cotton use stood at 7.6 million tons in the 2022-23 season, a rise of 4.1 percent. However cotton imports declined to 1.42 million tons, down 17.6 percent, both against the 2021-22 season
Cotton consumption will recover to 7.9 million tons in 2023-24, ascending by 4 percent, the China Cotton Association added.
Cotton planting area in the 2023-24 season stood at 41.48 million acres, down 7.6 percent and production was forecast at 6.279 million tons, again down 5.2 percent as against earlier season.