Tuesday, February 10, 2009

China's cotton imports down 14% in 2008

China imported 2.11 million tons of cotton in 2008, down 14.1 percent from 2007, according to statistics from China Customs.

The imported volume in December 2008 dropped 47.7 percent year-on-year to 168,000 tons, said Customs.

Analysts attributed the sharp decline to the dwindling demand from the textile and garment industries, which were hit hard as the global economic downturn curbed export orders.

China Cotton Association predicted that the cotton planting area in China would dwindle in 2009.

China is the world's largest cotton importer, with the US, India and Uzbekistan as the main suppliers.

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