China may not increase cotton imports this year

The China Cotton Association said China may not increase cotton imports due to a good harvest and textile mills exercising more caution in the amount of material they procure, Bloomberg reported. China’s cotton harvest, which may total 7.75 million tons for the year that ended August 31, included 350,000 tons from Xinjiang, the country’s biggest producing area. With this year’s harvest due to hit the market soon, domestic cotton prices are expected to fall, according to the association. Mills bought 1.64 million tons of foreign-produced cotton in the first eight months of the year, 1.3% less than the same period in 2007. Last month, however, cotton imports fell to 166,000 tons, a 28% drop year-on-year. The US is the world’s biggest cotton exporter, while China is the world’s largest cotton grower and consumer.