China’s imports of cotton in October were down 42 per cent on the same month last year, and the lowest level since January 2009. October imports fell after harvests in key exporting nations India and the United States were delayed, while importers also had fewer quotas this year to bring in cotton at a lower tariff.

China's cotton imports for the first 10 months of this year were down by 38 per cent. Imports are expected to remain weak in the coming months, with demand from textile mills sluggish and Chinese cotton prices under pressure from a local harvest. The country’s cotton imports in the 2014-15 crop year are expected to fall to a 10-year low, less than half the previous year's total.

China is the world's top consumer of cotton and has driven global demand and prices in recent years. But demand has been hit by an overhaul of Beijing's farmer support policy, which had artificially inflated local prices, making imports more attractive. For importers issued quotas based on a sliding tariff rate, the price differential between overseas and domestic cotton has narrowed to its lowest level since 2011. Full tariffs on non-quota cotton incur duties of 40 per cent.