April 19 (Bloomberg) -- China, the world’s biggest cotton consumer, may need to issue permits to import an additional 1 million metric tons this year to help ease an expected shortage, said Deng Jun, chief economist at Xinhu Futures Co.
If China goes to the global market, it will further reduce projected low ending stocks in the U.S. and “U.S. cotton prices are very likely to surge” as funds won’t let such a good investment opportunity pass, Deng said.