Research Report on Cotton Import in China, 2022-2030

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For the whole year of 2020, China’s cotton import reached a total of 2.16 million tons, up 16.8% YOY.

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China’s Cotton Import Overview

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:

Additional information

Publisher

Geography Covered

Date Published

Pages

Charts

Format

Base Year

2016

Base Market Size

0.9

Currency/Unit

million tonnes(import volume)

Forecast Year

2030

Market Size Forecast

3.87

CAGR

10.98%

Table of Contents

1 Overview of Cotton Industry

1.1 Definition of Cotton

1.2 Classification of Cotton

1.3 Analysis on Industry Chain of Cotton

2 Development Environment of China’s Cotton Industry, 2021-2030

2.1 Economic Environment of China’s Cotton Industry

2.2 Policy Environment of China’s Cotton Industry

2.2.1 China’s Quotas for Cotton Imports

2.2.2 China’s Import Tariffs on Cotton

 

3 Analysis on Supply of Cotton in China, 2019-2030

3.1 Analysis on Cotton Planting Area in China

3.2 Analysis on Cotton Output Volume in China

 

4 Analysis on Demand for Cotton in China

4.1 Analysis on Cotton Consumer Groups in China

4.2 Analysis on Consumption Volume of Cotton in China

 

5 Analysis on Cotton Import in China

5.1 Analysis of Scale of Cotton Import in China

5.1.1 Import Volume of Cotton in China

5.1.2 Import Value of Cotton in China

5.2 Analysis on Average Import Prices of Cotton in China

5.3 Analysis on China’s Reliance on Cotton Imports

5.4 Analysis on Sources of China’s Cotton Imports

5.4.1 Comparison of Prices of China’s Cotton Imports from Different Sources

5.4.2 China’s Cotton Imports from the U.S.

5.4.3 China’s Cotton Imports from Australia

5.4.4 China’s Cotton Imports from India

5.4.5 China’s Cotton Imports from Brazil

5.5 Comparison of Prices of Domestic and Imported Cotton in China

5.5.1 Prices of Domestic Cotton

5.5.2 Prices of Imported Cotton in CNY

5.5.3 Comparison of Prices of Domestic and Imported Cotton

 

6 Major Cotton Importers in China

6.1 Rankings of Major Cotton Importers in China

6.2 China National Cotton Group Co.

6.2.1 Enterprise Profile

6.2.2 Operation Status

6.3 Qingdao Hongchuan Logistics Co., Ltd.

6.3.1 Enterprise Profile

6.3.2 Operation Status

6.4 Chinatex Cotton Import & Export Co.

6.5 Xinjiang Yinlong International Agricultural Cooperation Co., Ltd.

6.6 Huai’an Xinguo Textile Co., Ltd.

6.7 Weiqiao Textile Co., Ltd.

6.8 Qingdao Sinotra Supply Chain Management Co., Ltd.

6.9 Sunvim Group Co., Ltd.

6.10 ADG Rubber Transaction Center Co., Ltd.

6.11 Lu Thai Textile Co., Ltd.

 

7 Prospect of Cotton Import in China, 2022-2026

7.1 Factors Influencing Cotton Import in China

7.1.1 Major Driving Forces and Market Opportunities

7.1.2 Threats and Challenges

7.2 Forecast on Cotton Import in China, 2022-2026

7.3 Forecast on Demand for Cotton Imports in China, 2022-2026

 

Selected Charts

Chart Classification of Cotton

Chart Analysis on Industry Chain of Cotton

Chart China’s Tariff Rate Quota for Cotton Import in 2021

Chart Cotton Planting Area in China, 2009-2020

Chart Cotton Output Volume in China, 2009-2020

Chart Sales Revenue of China’s Textile Industry, 2014-2018

Chart Apparent Consumption of Cotton in China, 2015-2020

Chart Average Import Prices of Cotton in China, 2009-2020

Chart China’s Reliance on Cotton Imports, 2015-2020

Chart Major Sources of China’s Cotton Imports in 2020

Chart Average Prices of China’s Cotton Imports from Different Sources in Dec. 2020

Chart Volume of China’s Cotton Imports from the U.S., 2015-2020

Chart Value of China’s Cotton Imports from Australia, 2015-2020

Chart Volume of China’s Cotton Imports from India, 2015-2020

Chart Value of China’s Cotton Imports from Brazil, 2015-2020

Chart Prices of Domestic Cotton, 2015-2020

Chart Prices of Imported Cotton in CNY, 2015-2020

Chart Comparison of Prices of Domestic and Imported Cotton in China, 2015-2020

Chart Rankings of Major Cotton Importers in China in 2020

Chart Profile of China National Cotton Group Corporation

Chart Profile of Qingdao Hongchuan Logistics Co., Ltd.

Chart Profile of Chinatex Cotton Import & Export Corp.

Chart Profile of Weiqiao Textile Company Limited

Chart Operating Revenue of Weiqiao Textile Company Limited

Chart Forecast on Import Volume of Cotton in China, 2022-2026