According to China Chamber of Commerce for the Import and Export of Textile and Apparel, China's import of cotton yarn declined in January-February of this year. The import dropped by 19.1% year-on-year to 124,000 tons in February, down about 100,000 tons compared to the 218,000 tons in January.

Along with the declining of global cotton price, the unit import price of cotton yarn has maintained the going-down trend since the second half of last year. It dropped to US$ 2.84/kg in January and further to US$ 2.79/kg in February, down respectively 9.8% and 9.3% year-on-year.

Industry insiders attribute the drop in the import of cotton yarn to reduced cotton import. Since last year, China's cotton futures price began to go down and textile mills began to use more local-grown cotton.

Related data show that China's import of cotton yarn from three major suppliers, namely India, Pakistan and Vietnam grew moderately in January, but in February while the import from Vietnam saw 27.9-percent growth, the import from India and Pakistan contracted by different margins in quantity term. In January-February of 2015, China imported 108,000 tons of cotton yarn from India, down 5.1% year-on-year, with unit import price dropping 12% to US$ 2.73/kg, meanwhile, China also imported 93,000 tons and 63,000 tons of cotton yarn respectively from Pakistan and Vietnam at the price of US$ 2.5/kg and US$ 2.91/kg.

In the first two months of this year, China's import of cotton yarn from other major suppliers, namely the United States, Republic of Korea and Thailand dropped respectively by 38.7%, 28.3% and 34.5%.

Source: China Textile Leader Express