According to statistics from Jiangsu Zhangjiagang Inspection and Quarantine Bureau, from January to October this year, Zhangjiagang Inspection and Quarantine Bureau imported a total of 298,000 tons of cotton with a value of US$600 million, a year-on-year decrease of 23.8% and 20.7% respectively.
According to the analysis of professionals from the Zhangjiagang Inspection and Quarantine Bureau, the main reason for the decline in both volume and price of cotton imports is that due to the impact of domestic cotton subsidy policies, international and domestic cotton prices have fallen deeply since May. Cotton traders and cotton-using enterprises Adopt a wait-and-see attitude on purchasing imported cotton. Secondly, due to cotton quota restrictions, cotton imports are restricted, coupled with factors such as low demand from the domestic textile industry, resulting in a decline in cotton imports. In addition, Southeast Asian countries such as Vietnam, Bangladesh, Indonesia, and Thailand have further increased their global share of cotton consumption, resulting in a rapid increase in my country’s cotton yarn imports from Southeast Asian countries and further restricting the use of imported cotton.
