China's cotton imports are likely to rise this year. 今年中国进口的棉花数量可能会增长。
India, which has been China's largest cotton import source and offers a competitive price, is likely to be the largest beneficiary, said the analysts1
Shipments of around 250,000 bales of Indian cotton to China have been delayed by nearly two weeks, according to a Reuters report.
Kotak Commodity Services Pvt, one of India's top cotton exporters, also said it will stop sending ships to China since it is worried that "the spread of NCP may lead China to close ports and banks," according to a Bloomberg report.
Shaking off the concern, Jiao Shanwei, editor-in-chief of cngrain.com, a website specializing in grain news, said that there will be a temporary delay in imports as ports, services and other logistics have not fully2
returned to work yet, but the situation will soon be eased as the whole country is gradually restoring normalcy.
Looking at the whole year, China is likely to largely increase imports of cotton to ramp3
up mask production, and the country has used much of its cotton reserves, including those from the state reserve, Jiao told the Global Times on Wednesday.
The Mumbai-based company said to make up for any possible shortfall in sales to China, it will look for new buyers of cotton in countries such as Bangladesh, Indonesia and Vietnam, said the report, citing the director of the company.
that it might be hard for the South Asian country to look for alternative buyers in the short term, as India relies on China for cotton exports.