In 2021, China’s cotton imports totaled 2.147 million tons, down 5.7% year-on-year, and the import value was US$4.11 billion, up 15.3% year-on-year. According to CRI analysis, in the first three quarters of 2022, China’s cotton imports totaled 1.458 million tons, down 21.2% year-on-year, and the import value was US$3.84 billion, up 11.1%.

The average price of China’s cotton imports is more volatile in 2018-2022. According to CRI’s analysis, the average price of China’s cotton imports fell continuously from 2018-2020, from US$2.0 per kg in 2018 to US$1.7 per kg in 2020. the average price of China’s cotton imports reached US$1.9 per kg in 2021, up 16.0% y-o-y. in the first three quarters of 2022, the average price of China’s cotton imports rose to US$2.6 per kg, up 41.0% year-on-year.

In 2021, China imports cotton from 36 countries, and the top five source countries by import volume are the U.S., Brazil, India, Burkina Faso and Benin.

According to CRI’s analysis, China’s cotton imports from the U.S., Brazil and India in 2021 will be 1.884 million tons, accounting for 87.7% of total imports, and $3.60 billion, or 87.5% of total imports, with the U.S. accounting for 38.6%, Brazil for 30.0% and India for 19.2%.

In the first three quarters of 2022, Sudan overtook Burkina Faso to return to the top five source countries of China’s cotton imports, the United States, Brazil, India still firmly in the top three, the three accounted for 88.8% of total imports, of which the United States imports amounted to 95.0 million tons, an increase of 26.6% year-on-year. India’s imports fell to 39,000 tons, down 90.4% year-on-year.

The types of cotton imported into China mainly include uncombed cotton and combed cotton, of which uncombed cotton is the main type of cotton imported into China. 2021, China imported 2.142 million tons of uncombed cotton, accounting for 99.8% of the total imports, and the import value of US$4.10 billion, accounting for 99.8%.

CRI analysis, China is the world’s largest cotton consumer, and domestic cotton production cannot meet the demand of the downstream industry chain, so the cotton market is in short supply, it is expected that the future demand gap of China’s cotton will still rely mainly on imports to meet, China’s cotton import market is dynamic.

Topics covered:

• China’s Cotton Import Status and Major Sources in 2018-2022
• What is the Impact of COVID-19 on China’s Cotton Import?
• Which Companies are the Major Players in China’s Cotton Import Market and What are their Competitive Benchmarks?
• Key Drivers and Market Opportunities in China’s Cotton Import
• What are the Key Drivers, Challenges, and Opportunities for China’s Cotton Import during 2023-2032?
• What is the Expected Revenue of China’s Cotton Import during 2023-2032?
• What are the Strategies Adopted by the Key Players in the Market to Increase Their Market Share in the Industry?
• What are the Competitive Advantages of the Major Players in China’s Cotton Import Market?
• Which Segment of China’s Cotton Import is Expected to Dominate the Market in 2032?
• What are the Major Adverse Factors Facing China’s Cotton Import?

The post Research Report on China’s Cotton Import 2023-2032 first appeared on CRI Report.

According to CRI’s analysis, in recent years, the growth rate of China’s cotton spinning industry is slowing down and labor costs, land rent and the prices of other production factors are rising in China, which increases the costs of cotton planting and decreases the profits and area of cotton planting. Meanwhile, cotton production capacity is being transferred to Xinjiang at a lower cost from other parts of China.

In 2020, the cotton planting area in China was about 3.168 million hectares, down 5.10% YOY. China is about to run out of cotton reserves and face a short supply of cotton. However, the growth of cotton planting areas is restricted by land policies such as returning farmland to forest. In particular, because of the rising labor costs of cotton planting, cotton fields in some regions have been turned into fields of other crops.

According to CRI’s analysis, China’s cotton production in 2020 was about 5.9105 million tons, up 0.36% YOY. However, it was still much lower than the production of 7.6 million tons in 2008. In 2020, China imported 2.16 million tons of cotton, up 16.8 % YOY. In the same year, China’s cotton imports increased significantly mainly because imported cotton had a certain price advantage. In this year, China’s cotton imports showed a rising tendency.

In the earlier stage, cotton imports continued to decline due to the impact of the COVID-19 epidemic. According to customs statistics, China imported 900,000 tons of cotton from January to June of 2020, down 23.7% YOY.

In the later stage, with the recovery of textile production and consumer demand, imports grew faster. From July to December of 2020, China imported 1.26 million tons of cotton, an increase of 88.1% YOY. For the whole year of 2020, China imported a total of 2.16 million tons of cotton, up 16.8% YOY.

The Chinese government introduces a quota administration for cotton import, and the tariff rate on cotton in quota is only 1%. The tariff rates on cotton imports out of the tariff rate quota range from 40% to 125%, depending on the sources and varieties of cotton.

With the escalation of the Sino-U.S. trade war, on Jun. 16, 2018, China’s State Council decided to place a 25% tariff on 659 U.S. products worth about USD 50 billion. The decision applied to USD 34 billion of U.S. exports from Jul. 6, 2018, including agricultural products, automobiles and aquatic products, which involved uncombed cotton and cotton linters. The increase in tariff immediately affected the export of U.S. cotton to China.

Since Jun. 2018, Chinese enterprises have significantly reduced U.S. cotton orders, and Brazil has replaced China as the largest destination of U.S. cotton exports. Overall, China imported about 360,000 tons of cotton from the U.S., while the U.S. exported 3.56 million tons of cotton in 2020. China’s cotton imports from the U.S. took up a small proportion of U.S. cotton exports.

Therefore, fewer orders from China had a limited impact on the export of U.S. cotton. However, in 2017, the cotton imported from the U.S. accounted for more than 40% of China’s cotton imports. In this context, the Sino-U.S. war had a great impact on cotton imports in China.

According to CRI, from 2022 to 2026, the growth rate of China’s cotton spinning industry will continue to slow down. However, the domestic demand for cotton textiles will keep rising, and a large number of cotton textiles will be exported as usual because of the price advantage. Therefore, the overall demand for cotton in China is expected to increase gradually from 2022 to 2026.

Restricted by production factors such as land rent and labor costs, cotton output in China can hardly rise and will even fall from 2022 to 2026. Therefore, the import volume of cotton in China will keep rising during this period.

Topics covered:

• Economic and policy environment of China’s cotton imports
• Status and major sources of cotton in China, 2013-2020
• Analysis of China’s major cotton importers
• Key driving forces and market opportunities for China’s cotton imports
• Forecast on key driving forces, challenges and opportunities for China’s cotton import, 2021-2031
• Major participants in China’s cotton import market and their competitive benchmarks
• Forecast on the revenue of China’s cotton import market, 2021-2031
• Strategies adopted by the major market participants for increasing their market share in the industry
• Forecast on the segment to dominate the cotton import market in 2031
• Competitive advantages of the major participants in the cotton import market
• Impact of COVID-19 on China’s cotton imports
• Major restrictions over the growth of China’s cotton imports
• Global Face Masks Market By distribution (online market, malls and superstore, wholesale market); By type (cotton, polyester, plastic and others); By end user (oil and chemical, healthcare industry, mining, textile, etc.) and Region –Analysis of Market Size, Share & Trends for 2016 – 2019 and Forecasts to 2030.

The post Research Report on Cotton Import in China, 2022-2030 first appeared on CRI Report.

Topics Covered:
– Introduction to China’s import tariff quotas for agricultural products
– Analysis on advantages and disadvantages of China’s import tariff quotas for agricultural products
– China’s import of agricultural products subject to tariff rate quota administration
– Major enterprises granted with China’s import tariff quotas for agricultural products
– Forecast on development of China’s import tariff quotas for agricultural products

The post Research Report on China’s Import Tariff Quotas for Agricultural Products, 2019-2023 first appeared on CRI Report.