China cotton imports: Brazilian cotton imports over 200kt in Jan-Feb, 2022

China cotton imports: imports were 228kt in Jan, 2022, up 67% from Dec, 2021, but down 43% from a year ago, and imports were 185kt in Feb, down 19% month on month and 36% year on year. In Jan-Feb, 2022, imports totaled 412.8kt, down 40% year on year and in 2021/22 season (Sep 2021 to Feb 2022), imports totaled 780kt, a fall of 53% year on year.

Import analysis:

In Jan-Feb, 2022, the major import origin was Brazilian cotton, with intensive arrivals of Brazilian cotton at Chinese ports. Imports of Brazilian cotton were 203.4kt during the period, and that of U.S. cotton were 140kt, down 53% year on year. Imports of Brazilian cotton increased from previous month, but also declined year on year.

The proportion of U.S. cotton increased compared with Dec, 2021, as the shipments of U.S. cotton were delayed, different from the situation of the same period of last year.

Brazilian and Indian cotton imports were high in Jan, 2022, but declined apparently in Feb. The U.S. cotton imports increased obviously in Jan compared with Dec 2021, and continued to rise in Feb.

The major cotton imports were Brazilian cotton in Jan-Feb. In Jan, the imports of Brazilian cotton were 122.6kt, up 40.7% from Dec, 2021, but down 18% year on year, and in Feb, imports of Brazilian cotton were 80.8kt, down 34% month on month and 26.3% year on year. The total imports were 203.4kt in Jan-Feb, 2022, down 21.4% from the same period of 2021. By end Feb, 2022, imports of Brazilian cotton were 360kt in 2021/22 season, a fall of 25.8% year on year.

The second largest imports were U.S. cotton during the period. In Jan, 2022, imports of U.S. cotton were 64.8kt, up 198% month on month and down 61% year on year. In Feb, imports of U.S. cotton were 76kt, up 17.3% month on month, but down 43% year on year. In Jan-Feb, U.S. cotton imports totaled 140.8kt, down 52.7% year on year. By end Feb, imports of U.S. cotton totaled 258kt in 2021/22 season, a fall of 67% year on year.

The export sales of U.S. cotton to China maintained good, and U.S. cotton export shipments improved apparently from late Jan. From Apr 23, 2020 to Mar 10, 2022, export sales of 2019/20 U.S. cotton to China were 331.7kt, that of 2020/21 U.S. cotton to China were 817.5kt, and that of 2021/22 U.S. cotton to China were 901.9kt, totaling 2.0511 million tons. Export shipments amounted to 1.8204 million tons from Apr 23, 2020 to Mar 10, 2022.

Unit price of imported cotton is the average price based on total value and quantity released by the China Customs. In Jan-Feb, 2022, the unit prices moved up apparently, especially Indian, African Franc Zone and Central Asian cotton.

Conclusion: Brazilian cotton has arrived intensively, and the imports reduce apparently in Feb compared with Jan. Later, the Brazilian cotton imports may gradually reduce, while U.S. cotton imports may increase.