Research Report on China’s Cotton Import 2023-2032

Description

With the development of China’s economy and rising living standards, the demand for cotton in the Chinese market is on the rise. Due to the limited arable land, there is little room for growth in China’s local cotton production, and China needs to import a large amount of cotton every year.

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?