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Wednesday, June 19, 2024

Chinese exports of refined cotton hits a new high

In 2023, Chinese exports of refined cotton and specialty cotton linter pulp stood at 82,292 tons, growing by a marginal 0.74 percent yearly, despite the figure hitting a historic high.

Of this, the lowest export volume was reported in June at 5,403.5 tons, while the highest was recorded at 7,740.8 tons in August, with an average monthly export volume of 6,857.7 tons.

It may be recalled that refined cotton and specialty cotton linter pulp exports in 2022 had grown by a significant 22.3 percent from a year ago period to reach 81,700 tons and thereby reached new heights.

Refined cotton and specialty cotton linter pulp was exported to 40 countries and regions and exports to the top five markets touched 74 percent of overall exports.

According to Chinese customs data, amidst export markets, South Korea was the largest market at 27,965 tons in 2023, rising by 25.9 percent and accounting for around 34 percent of total exports.

However, there was also a massive drop in exports to the US, where they dived by 90.3 percent to 346 tons, and shipments to Germany also fell significantly by 82.5 percent to 722 tons.

Amidst exports to all countries, exports to France bagged the highest export price at US $2,378 per ton, while those to South Korea had the lowest, at $1,387 per ton.

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