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Chinese imports of cotton becomes costlier

Written By Views maker on August 12, 2009 | 8/12/2009

CIF offers continued to increase. The offers for U.S. and Australia crops hiked 1.5cent/lb while the offers for Central Asia and Africa crops moved up 1.0-1.5cent/lb. Offers for India crops hiked 0.5-1.0cent/lb. Prices for 2008/09 Customs clearance West African crops stabilized at 13200-13300yuan/mt, about 200-300yuan/mt higher than the 2003/04 foreign crops bought from state cotton reserve auction. CIF offers for foreign cotton rose greatly. The offers for U.S., Australia and Brazil cotton hiked 1.5-2.0cent/lb while that for Central Asia and Africa crops climbed up 1.0-1.5cent/lb. Offers for long staples and organic cotton held steady. However, the export offers for India cotton dropped recently. The offers for S-6 1-1/8 dropped from 66.5cent/lb to 65.5cent/lb while the lower offers for S-6 1-5/32 were at 65cent/lb.