Pursuits
China Curbing Cotton Imports as Top User Buying More Yarn
- Chinese imports seen slumping 33% to 1.2 million tons: ICAC
- Asian nation moving away from less profitable cotton spinning
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China, the world’s largest cotton user, will import less fiber this year and that will be bearish for global prices, according to the International Cotton Advisory Committee.
Overseas purchases will tumble 33 percent to 1.2 million tons in the year started August from 1.8 million tons a year earlier, the committee estimates. The Asian nation will instead increase imports of cotton yarn from countries including Vietnam and India, Rebecca Pandolph, a statistician at the committee known as ICAC, said in an interview in Mumbai on Monday.