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April 2008
Source:
ReportLinker.com
ABSTRACT
In 2007, China launched a series
of policies, including subsidy to high quality cotton seed and
policy insurance and according to the "Eleventh Five-Year Plan"
(2006-2010), China plans to pick up the construction of
high-quality cotton production base in Xinjiang Uygur Autonomous
Region by investing CNY750 million, all of which have greatly
enhanced the enthusiasm of farmers to plant cotton. Statistics
from the National Bureau of Statistics show that China's total
cotton planting area reached 5.59 million hectares in 2007, up
3.3% year on year, and cotton output in the year reached 7.6
million tons, up 12.6% against the previous year.
In 2007, China imported 2.46 million tons of cotton, down 32.5%
against the previous year, which was caused mainly by the
following three factors:
- A rise in cotton output at
home
- A slowdown in the growth
of China's textile and apparel exports. In 2007, China's
textile and apparel exports reached US$171.17 billion, up
16.5% year on year, but 8.5 percentage points lower than a
year ago.
- An increase in prices of
imported cotton. In 2007, the average price of imported
cotton in China was US$1,415 per ton, up 5.6% year on year,
due to the impact of several factors, including U.S.
cancellation of subsidies to cotton export, anticipated
reduction of cotton output in international market and price
hikes in global agricultural products.
Statistics from the National
Bureau of Statistics show that in 2007, China's total spinning
output produced by companies above designated size (company with
an annual sales revenue over CNY5 million) reached 19.94 million
tons, up 14.6% year on year, or an addition of 2.54 million
tons. Based on the calculation by cotton spinning ratio of 55%,
the lowest one regarded by the industry, China's cotton
consumption in the year would likely be 10.96 million tons and
the gap would likely be around one million tons.
Based on the authoritative and abundant information from the
National Bureau of Statistics, the China Cotton Association and
the General Administration of Customs of China, this report
makes an in-depth study on the market status, main policies,
supply & demand and key companies of cotton industry and
forecasts the supply and demand as well as the development trend
of cotton and its seed industry in the period of October, 2007
to September, 2008.
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