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China's bonded warehouses bursting with imported cotton


08:21, August 29, 2012

BEIJING, Aug. 28 (Xinhua) -- Imported cotton has been piling up in bonded warehouses at a major coastal harbor in east China due to government import quotas and growing appetite for cheaper foreign-produced cotton.

Imports have filled up more than 30 cotton warehouses at the free trade zone of the Qingdao port in Shandong Province in recent months and some of them have been overstocked for as long as a year, according to a report in the Securities Daily.

An unidentified official of the Qingdao Hongchuan Logistics Co., Ltd. at the port said his company stopped accepting new deliveries a month ago as the 20,000-square meter warehouse was already fully occupied.

Warehouse entries usually thin out in July and August, but this year have seen storage reservations line up till October, an official from another cotton logistics company told the newspaper.

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