Ministry Of Agriculture: Cotton Market Monitoring Information In May 2010

Recently, the Ministry of Agriculture's agricultural product market monitoring and early warning expert group released the cotton market monitoring information in May 2010.

1、 Domestic cotton prices continue to rise

In May, the average monthly price of 328 grade cotton was 16774 yuan/ton, up 31.3% year on year and 3.0% month on month.

2、 International cotton prices hit a record high again

In May, the average price of Cotbook A (equivalent to domestic 328 grade cotton) index was 89.75 cents/pound, up 44.9% year on year and 1.9% month on month, hitting a record high again.

3、 Domestic and foreign cotton Further expansion of price difference

In May, the Cotbook A index was equivalent to 13506 yuan per ton, 3268 yuan lower than the domestic cotton price, and the price difference was 132 yuan larger than that of last month. The average monthly price of imported cotton in FC Index Grade M (Grade M is equivalent to Grade 328 cotton in China) is 90.80 cents/pound, and the after tax price per ton after 1% tariff discount is 15796 yuan, 978 yuan lower than the domestic price; The sliding allowance tax discount CIF price per ton is 16286 yuan, 488 yuan lower than the domestic cotton price.

IV cotton Imports remained the same as last month, and textile and clothing exports increased significantly year on year

According to customs statistics, China imported 324000 tons of cotton in April, unchanged from the previous month, with a year-on-year growth of 122.5%. As of April, China had imported 1.72 million tons of cotton in 2009/10, up 94.4% year on year.

5、 Global cotton output is expected to increase significantly in 2010/11

The International Cotton Advisory Committee (ICAC) predicted in May that the global cotton planting area would rebound in 2010/11, with the output increasing by 13% to 24.83 million tons; The global trade volume is 7.74 million tons, of which China's import volume will increase by 22% to 2.6 million tons; The inventory consumption ratio outside China is 51%, the same as this year; The average value of Cotbook A index is 85 cents/pound, 8 cents/pound higher than this year.