Growth in China's Cotton Linter Imports
China's cotton linter import market has shown remarkable growth in the first two months of 2024, with import volumes surging more than threefold year-on-year. Imports from India have dominated the market, while imports from the United States have experienced a significant resurgence.
Customs data reveals that China imported approximately 7,042.49 tons of cotton linter in February 2024, marking a 22% increase from the previous month and a staggering 344.7% increase compared to the same period last year. The total import volume for January and February combined reached 12,814.1 tons, representing a remarkable 305.1% year-on-year growth.
This substantial increase in import volume can be attributed to various factors, including limited domestic supply due to operational constraints in Chinese cottonseed oil mills and delinting plants since the fourth quarter of 2023. Consequently, the demand for imported cotton linter has risen, driving up prices.
In February 2024, the average import price of cotton linter stood at $374.55/mt, indicating a 4.05% increase from the previous month and a notable 23.27% increase year-on-year. This rise in prices has been accompanied by an increase in demand for industry-grade refined cotton, particularly cotton linter pulp.
India remains the top supplier of cotton linter to China, followed by Brazil, Tanzania, and the United States, which collectively account for nearly 96% of total imports. The surge in imports from India can be attributed to price advantages and the growing demand for refined cotton, with imports from India experiencing a 476.1% year-on-year increase from January to February, totaling 8,671.5 tons.
In contrast, imports from the United States witnessed a sharp decline in 2023 due to various factors, including strained Sino-US relations and evolving demand dynamics. However, imports from the United States have rebounded significantly in 2024, with a total of 771.1 tons imported from January to February, representing an 8,476.8% year-on-year growth.
Shandong has traditionally been a key region for cotton linter imports in China, with Jiangsu emerging as a significant importer, accounting for 38.6% of imports in January and February 2024.
In summary, China's cotton linter import market has witnessed impressive growth in the first two months of 2024, driven by increased demand and limited domestic supply. Imports from India have surged, maintaining their dominance in the market, while imports from the United States have experienced a notable resurgence after a decline in the previous year.
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CCI purchased 6.35 lakh quintals of cotton in Madhya Pradesh
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