Reserve cotton release increased new season cotton and import cotton volume in April, which improved the trading rate, relieving the situation of insufficient high grade cotton for mills, and import volume declined over the month with slightly higher price. The issue of sliding duties reduced the full duty import to less than half of the monthly import. General trade and import from bonded zones still dominate. U.S. restored the top sourcing country, instead of India; these two sources accounted for about 70% of the import. Qingdao, Nanjing and Shanghai are the main destination ports, Beijing, Jiangsu and Shandong are the major importers.

According to Customs, import cotton in April was 430,900 ton, 97,900 ton less than last month, down by 18.5%, while 15.5% down Y/Y; the average import price was 1,942 USD per ton, 60 USD up over the month, 18.4% up Y/Y. The cumulative total of the first 8 months in 2012/13 season was 3,167,000 ton, 15.6% down Y/Y; the first four months import of 2013 was 1,796,000 ton, 13.5% down Y/Y.

All import means declined in April. The least decline was general trade, took share of more than 40%, goods under Custom special supervision was 23.4%, goods in bonded areas was 19.5%, processing with imported materials took 12.7%.

As for origin countries, U.S. and Uzbekistan continued the increase, India, Australia and Brazil declined in volume. Since Dec., 2012, U.S. surpassed India to the top source country for the first time.

The average import price in April increased slightly, except feeding processing. The general trade increased by 3.98%, processing by accepting customers materials, logistic good under special custom supervision and goods in bonded areas increased by 5.21%, 1.99% and 1.94% separately.

The average import price for the top five all increased, U.S., India, Uzbekistan, Brazil and Australia increased by 3.1%, 0.34%, 6.95%, 9.24% and 7.41%.

In April, the main destination ports are Qingdao, Nanjing and Shanghai, accounting for nearly 80%.

Beijing, Jiangsu and Shandong are the main importers, took share of nearly 70%.