BEIJING, April 27 /PRNewswire-Asia/ -- Himfr.com, one of China's leading B2B search platforms with more than 30 B2B industry websites to its name, reports yarn production boost.
In the first quarter of 2010, with China's economic recovery momentum apparent, the international economic situation continues to improve. The production and export situation of the textile industry is optimistic. The price recovery increased cotton demand, which promotes cotton prices increases. By the end of March, the sales of domestic cotton prices were more than 16,000 RMB/ton, up 3,000 RMB over the beginning the year. According to the Himfr's statistics, in the first quarter, China's yarn production is 5.6 million tons, up nearly 20% year-on-year; textile and apparel exports are 39 billion RMB, up 15% year-on-year; cotton imports are 850,000 tons, year-on-year up 2.1 times.
National cotton acquisition is basically over. Prices continued to rise encouraging farmer confidence in the market outlook; coupled with weather factors, the intentions of cotton farmers in some areas are slightly higher than in February. But with the state's support for grain further increase, it is expected to increase slightly overall.
With rapid increases in Chinese cotton prices, the difference between Chinese and international cotton prices has increased greatly, but 1% tariffs on imported cotton prices still give some advantages. Textile demand is rich: March imports of cotton reached a record high in nearly 4 years at 324,000 tons, compared with February, increasing nearly 47%. At the same time, import prices rose sharply and now average US$1,741/ton, reaching a record in the last 6 years.
Himfr believes that the textile industry in 2010 will recover with high cotton prices. Because the state has a strong macro-control ability, the overall market will be operating smoothly, which is good for the cotton industry's healthy development.
About Himfr.com
Himfr.com is a promising e-commerce company and a leading vertical search engine company in China. Himfr.com offers a variety of high quality products such as sheet piling (http://www.himfr.com/buy-sheet_piling/ ), Ferguson tractors (http://www.himfr.com/buy-ferguson_tractors/ ), ionic foot baths (http://www.himfr.com/buy-ionic_foot_bath/ ) and many more.
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SOURCE Himfr.com
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