China's cotton import down 13.8% in Aug.

China's import of cotton stood at 207,000 tons in August, down 33,000 tons or 13.8 percent from the same month last year, according to statistics from the General Administration of Customs. In the first eight months, China imported a total of 1.69 million tons of cotton, down 13.4 percent. In 2010, China imported 2.58 million tons of cotton, up 73,000 tons from the previous year. A national working meeting on cotton industry held last week said that in 2011 China's cotton output is predicted to increase while market demand will remain stable. The country will effectively use international market resources and national cotton reserve system to balance market supply and demand, so as to protect cotton farmers' interest and a smooth market operation.