Last Updated :
12 March 2010 at 12:50 IST
China cotton exports plunge, imports surge
BEIJING (Commodity Online) : Cotton exports by China plunged by nearly 79 percent while imports surged in the first month of this year.
According to country’s Ministry of Agriculture, China's cotton exports fell to 204.9 tons while its cotton imports quadrupled to 329,000 tons in January.
Cotton's import value was $530 million in January, up 385.6% year on year, and its export value was $357 thousand, down 77.5% year on year.
The trade deficit thus amounted to $530 million, five times the deficit last January.
Cotton exports to the U.S. and India accounted for 62% of the total last year, 14 percentage points less than the previous year.
Cotton imports from Australia, Burkina Faso and Brazil increased 33.6% 126.75% and 117.91% respectively in 2009, and the import value grew 11.43%, 84.2%, 83.01%, respectively.
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