China’s 2022-23 season cotton production increased 14.7 percent year on year to 6.622 million tons. However, it is forecast to decrease in the 2023-24 season as per statistics from the China Cotton Association.
On August 31, the China Cotton Price Index closed at Yuan 18,294 per ton, which was the highest point of the year and rose by Yuan 2310 year-on-year.
In the 2022-23 season, cotton consumption was 7.6 million tons, up 4.1 percent, but cotton imports decreased 17.6 percent to 1.425 million tons, and ending inventory was 8.74 million tons, up 5.2 percent, all over the 2021-2022 period.
“According to the China Cotton Association, cotton consumption will recover to 7.9 million tons in 2023-24, a year-on-year increase of 4 percent,” media reports stated.
According to a survey done in August, the national cotton planting area in the 2023-24 season was 41.48 million acres, down 7.6 percent and output was expected to be 6.279 million tons, again down 5.2 percent compared to the previous season.
As per Chinese customs data, the country imported approximately 858,000 tons of cotton, a year-on-year decrease of 37.1 percent, while in the 2022-23 season, China imported approximately 1.425 million tons of cotton, down 17.6 percent over the 2021-2022 season.
China’s cotton output is up in the 2022-23 season, but maybe down in the 2023-24
