According to customs statistics, my country imported 140,000 tons of cotton in December 2021, a month-on-month increase of about 40%, and a year-on-year decrease of about 210,000 tons, a decrease of about 61.4%. In 2021/22 (2021.9-12), my country imported a total of 370,000 tons of cotton. tons, a year-on-year decrease of 61.9%. However, in 2021, my country imported a total of 2.15 million tons of cotton, a year-on-year decrease of only 0.6%.
Some foreign businessmen and cotton traders said that the 140,000 tons of cotton imported in December was within a reasonable range and not unexpected. The main reason for the year-on-year decline of more than 60% was that the cotton import base in the same period last year was too high and the number of quotas was small. Some cotton spinning mills and traders said that during the rapid rise in international cotton prices in the past month, a large number of buyers failed to buy in time and went long, “shorting” the market, and now regret it. In addition, although an additional 700,000 tons of cotton import quotas with sliding quasi-tariffs have been issued in 2021, because not only are 100% non-state-owned trade, but 400,000 tons of them are limited to imports through processing trade, some cotton traders only report a 1% tariff. The price of quotas has not been positive or cold to the sliding tax quotas.
Judging from the survey, the recent main ICE futures contract has broken through 115 cents/pound and 120 cents/pound, approaching 125 cents/pound, causing textile companies and traders to continue to inquire/purchase bonded and cargo foreign cotton. cooling; coupled with the fact that the 1% tariff quota in 2021 has been exhausted, the issuance of the 1% quota in 2022 has been delayed in previous years, and the number of bonded US cotton and Brazilian cotton stocks at the port is currently small, the industry expects that January 2022 It is difficult for foreign cotton imports to improve and will still run at a low level.
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