According to customs statistics, in 2008 China’s January-November a total of 1,943,000 tons of cotton imports, worth 3.24 billion U.S. dollars, more than the same period last year (the same below) were down 9.1 percent and 8.6 percent growth; import average price of 1666 U.S. dollars / ton, up 19.4%. Its imports of the main features are:

First, the monthly import volume continues to decline. Since the second half of 2008, China’s cotton imports were down month by month trend, the month in November imports dropped further to 76,000 tons, up 25.2 percent decline, the Central than the 20.8 percent decline; month significantly lower average price of imports for 1641 U.S. dollars / ton , rose 8.8 percent, the Central than the 5.2 percent decline.

Second, a substantial decline in imports in general trade, bonded warehousing significant growth in imports. China’s January-November to the general trade import 688,000 tons of cotton, down 23.2 percent; Bonded Warehouse in the same period to re-export and processing trade imports of cotton were 510,000 tons and 492,000 tons respectively, up 10% and 4%. The three together accounted for the same period in China’s cotton imports 87% of the total.

Third, imports from the United States drop in imports from India increased significantly. January-November China’s cotton imports from the United States 884,000 tons, down 16.7 percent; from India imported 570,000 tons, an increase of 27.8 percent, the Taken together accounted for the same period the total of China’s cotton imports 74.9%; the same period in China’s imports of cotton from Uzbekistan 166,000 tons, down 15.8%.

Fourth, rapid growth of the private sector imports, state-owned, collective enterprises of imports has declined markedly. China’s January-November the private sector, state-owned and collective enterprises import 571,000 tons of cotton, 524,000 tons and 448,000 tons, increased 12.3 percent, down 19.6 percent and 12.3 percent decline, the three together accounted for the same period of China’s total imports of cotton 79.5%; the same period in foreign-funded enterprises import 400,000 tons of cotton, down 13.9 percent.

Five, mainly in Shandong, Jiangsu and Shanghai enterprises import. January-November enterprises in Shandong province imported 790,000 tons of cotton, an increase of 4.6%; in the same period, Jiangsu and Shanghai, respectively, imports of cotton, 306,000 tons and 188,000 tons, respectively, decreased 20.8% and 8.4%; the three together accounted for the same period in China’s cotton imports 66.1%.

Affected by the global financial crisis, China’s textile and garment export blocked, production and sales in the doldrums, demand for cotton on the upper reaches of the rapid shrinkage of a direct result of China’s cotton imports down month by month. Affected by this, since May 2008 the domestic market cotton prices plummeted. Although the state has increased by the recent strength and increase cotton textile and garment export tax rebate rate policy, China’s cotton price index average of 11 weeks at the end of a nearly 5 months since the rose for the first time, but the general trend of cotton prices and did not change in November China Cotton price index average price of 10,830 yuan / ton higher than the average price in October also fell 1492 yuan / ton. At present, the domestic cotton market prices in the 2.2-2.3 yuan / kg, after deducting the proceeds middlemen, farmers directly sell price of only 2.1-2.2 yuan / kg, while the National Cotton (seed cotton) Consolidated cost of about 2.5-2.6 yuan / kg or so-sik Cotton-effective to reduce or even losses, so that the enthusiasm of farmers of cotton suffered a serious setback. China Cotton Association research shows that in 2009 China’s cotton acreage fell hard to avoid.