BEIJING, March 26 /PRNewswire-Asia/ -- Himfr.com, one of China's leading B2B search platforms with more than 30 B2B industry websites to its name, reports the cotton market is shining in 2010.
Last year, cotton production was down, but the price was higher than in 2008. As for the cotton production situation this year, China's overall cotton growing area was reduced by 2.10% from 2009.
As for production and consumption, in 2010, the total output of cotton was about 24.7 million tons, but this figure is still lower than the total global consumption of 25 million tons. For 11 consecutive years, China's annual output was less than needed, and in the New Year, China's production and demand gap will further widen.
In addition, in the textile industry, over the past year, China's textile industry has gradually recovered from the industry downturn, showing the development of a stabilizing situation. As the textile industry turned for the better, in January of this year, China imported 301,000 tons of cotton, which is a record amount and a 39% increase compared with the previous month, over 2.9 times last year's imports; for the first 5 months of the year 2009, China's total import of cotton was 850,000 tons, a 55.5% year-on-year increase.
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SOURCE Himfr.com
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