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China : Cotton demand to surpass domestic supply |
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2006-9-25
In the fast growing economy where textile is a major income earning industry, demand seems to be exceeding the supply significantly.
In 2006 cotton farming area comes up to around 5.27 million hectares (79 million mu), 200,000 hectares (3 million mu) more than it was in 2005.
However, survey reveals that the expected output by the end of this year is around 6 million tons, while demand will surpass at 10.6 million tons, representing deficiency of over 4.51 million tons.
Experts opine that despite several problems of rising value of yuan, hike in prices and lack of competitive labour, textile sector will continue development that will result in steady growth in demand.
fiber2fashion.com
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