Related Keywords: 000 tonnes, 5.97m bales, August-to-July basis, Beijing bureau, Chinese cotton imports this season, domestic spinning industry, need for high-quality fibre, pegged at 1.30m tonnes, rise of more than 200, US Department of Agriculture, Year on year
The US Department of Agriculture’s Beijing bureau pegged at 1.30m tonnes (5.97m bales) China’s cotton imports in 2017-18, on an August-to-July basis. A rise of more than 200,000 tonnes year on year – far bigger than the 58,000-tonne increase, to 1.15m tonnes (5.30m bales), that the USDA has officially penciled in.
The bureau’s estimate comes amid persistent market talk that China may be poised for accelerating buy-ins, with some rumours of a potential increase to the import quota of 894,000 tonne allowed in with a 1% tariff, under an agreement with the World Trade Organization.
