China bought from abroad 2.04 million tons of cotton for 2.83
billion U.S. dollars in the first 10 months of this year, down 37.3
percent and 34.8 percent respectively from the same period of last
year.
Customs sources said the United States and India were two
leading suppliers, who combined to account for 70.8 percent of
China's total arrivals.
Between January and October, China imported 1.02 million tons of
cotton from the United States, down 37.7 percent, and 424,000 tons
from India, down 11.1 percent.
The 10-month period saw China's state-owned enterprises buy
622,000 tons of cotton from abroad, down 56 percent, and private
and foreign-funded companies import 482,000 tons and 431,000 tons,
down 19.6 percent and 17.5 percent respectively.
The sources ascribed the import decline to efforts to protect
sale of domestically produced cotton.
This year China postponed distribution of import quota till the
time when more than half of domestically-yielded cotton were sold
out.
In mid July, the government released 300,000 tons of cotton in
stock to ease short supply nationwide, a move conducive to
mitigating the nation's reliance on imports.
Meanwhile, the government earmarked 500 million yuan (67.6
million U.S. dollars) as subsidies for cotton growers to buy
improved seeds, in a bid to ensure cotton production at home, the
sources added.
(Xinhua News Agency December 23, 2007)
