Cotton Planting Area Decreased By 10%
Spin The recession has already involved the upstream planting industry.
According to the Ministry of agriculture's agricultural dispatch yesterday, the cotton planting area of 76 million 600 thousand mu this year will be reduced by 9 million 700 thousand mu, a decrease of 11.57%., which is mainly affected by the reduction of textile exports, and the domestic market. cotton Demand declined and prices fell, and farmers' enthusiasm for production decreased significantly. According to customs express statistics, in February, China's textile and apparel exports were 6 billion 680 million US dollars, down 35.1% compared to the same period last year, down by 56.2%.
This is not unique to China. The American Cotton Association predicts that the reduction of global cotton planting area this year may result in cotton production falling to its lowest level in 6 years.
It is understood that the purchase and sale of the purchase and purchase of textile enterprises after the spring festival began to replenish inventory, the domestic market price of cotton purchase and sales has picked up. However, in the world's major developed countries, the economy deteriorated further in February, and the US stock market and commodity futures market weakened completely, and the price of international cotton futures and spot dropped sharply. cotton The pressure increased.
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Editor in chief: Wang Xiaonan
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