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Reuters
Published
Apr 14, 2010
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China signs deals to buy cotton from India

By
Reuters
Published
Apr 14, 2010

BEIJING, April 14 (Reuters) - China, the world's largest cotton importer, has signed deals to import 100,000 tonnes of cotton as well as cottonseed and cotton yarn from India this year, according to a report by the China Cotton Association.



The report did not give a value or other details but said the deals were signed during the visit to India by Chinese Vice-Premier Hui Liangyu last month, the association said in a report on its website (www.china-cotton.org).

The two countries also agreed to look into the establishment of joint venture cotton mills and sales agents in both countries to help boost Indian exports to China, according to the report.

China, the world's top cotton consumer, imported 265,460 tonnes from India in the first two months of the year, a rise of 1,694 percent from a year earlier, replacing the United States as the largest exporter to China. [For details, search on SOF/CN].

China's lower cotton output last year is expected to lead to more imports this year to meet textile industry demand. Textile exports have recovered from last year's global financial crisis. [ID:nTOE82197]

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