China's Cotton Imports Continue to Skyrocket

China's Cotton Imports Continue to Skyrocket

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China’s cotton imports in November, totaling 126,000 tons, reflect a 31 percent increase over the amount the country imported the month before, and a 12 percent surge when compared with its imports from November 2009, according to the General Administration of Customs.

Year-to-date, China has imported 2.38 million tons of cotton, up more than 81 percent compared with the same period of last year. Until now, China has bought most of its cotton from the United States, but Uzbekistan is now China’s top source.

The amount China is importing isn’t the only thing going up; the prices are on the rise as well. In November, the import price was $2,356 per ton--10.6 percent ($225) more than it was in October. The Chinese government announced in September that it will lift China's cotton import quota from previously planned 894,000 tons to 2.7 million tons to curb the price fluctuation, sources reported.

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