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Shandong'S Import And Average Price Of Cotton Has Repeatedly Increased.

2010/7/2 14:09:00 37

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The Customs was informed that the import and average price of cotton in Shandong has reached a record high this year due to the shortage of global cotton and the frequent occurrence of abnormal weather in China.

Qingdao customs expects that international cotton prices will remain strong, and domestic cotton prices will also run high, with limited callback space.

According to the statistics of Qingdao customs, Shandong Port imported 601 thousand tons of cotton in the first 5 months of this year, valued at US $1 billion 50 million, up 1.2 times and 2 times respectively, and the average import price was 1753 US dollars / ton, up 37.8% over the same period last year.

Among them, the average monthly import price of cotton in May reached 1795 US dollars / ton, up 43.5% over the same period last year, the highest level since April 2004.

Since October last year, the monthly import volume of cotton at Shandong port has also increased for the 8 consecutive month, and in March this year, the highest monthly import volume has reached 154 thousand tons since June 2006. 4, while the import volume in May has dropped, the growth rate is still over 10%.

According to the analysis,

Cotton at Shandong port

The main reason for the increase in import prices is the demand growth in the textile industry, which has led to the continued decline in cotton inventories and the increasing supply of cotton.

It is estimated that the domestic cotton supply gap will reach 1 million -140 million tons before the new cotton market comes into operation at the end of August.

The global demand for cotton is also strong enough to support the rise in international cotton prices.

The US Department of agriculture report shows that the global cotton gap of 1 million 131 thousand tons in 2010/2011 is still at a record high, leading to a drop in the end of global cotton inventories and a consumer inventory ratio of 42%, the lowest since 1994/1995.

At the same time, this year, China's main

Cotton producing area

Abnormal weather is frequent, resulting in cotton production situation is grim.

Especially in the middle of May, the main cotton producing areas in Northwest China suffered snowstorm and hail weather. The area of cotton harvest in Xinjiang's Bazhou and Akesu area reached 140 thousand mu, which posed a great threat to cotton production.

In addition, the reduction of comparative efficiency of cotton seed also led to the decline of farmers' enthusiasm for cotton planting.

According to the latest survey data from the cotton association of China, the cotton planting area in 2010 was 77 million 100 thousand mu, down 0.93% from the previous year.

It is worth mentioning that in May 21st, India abolished the ban on cotton exports, to a certain extent, eased the supply of cotton in the international market. The spread of the European debt crisis will also affect the export of cotton textiles in China and play a role in pulling down domestic cotton prices.

However, Qingdao customs believes that the supply of foreign cotton is still not optimistic.

Because the United States has only about 200 thousand tons of cotton export target per year, Uzbekistan's cotton exports have reached the upper limit, and India's export of cotton before the new cotton market is only 100 thousand -17 million tons.

Affected by this, domestic cotton supply is still tense, and it has strong support for cotton price, with limited price callback space.