Ministry Of Agriculture: Domestic Cotton Price Increase Slowed Down In July
Ministry of Agriculture
The August 25th cotton market monitoring report released in July indicated that domestic cotton prices continued to rise in July, but the increase slowed down. The average price of the 328 grade cotton reached 18333 yuan / ton, a 2.4% increase in the ring ratio, and 3 percentage points lower than that in June.
The Ministry of Agriculture said the international cotton price fell sharply during the period.
cotton
Spreads widened further.
In July, the Cotlook A index was RMB 12635 yuan per ton, 5698 yuan lower than domestic cotton price, and the spread widened compared with June.
The report further states that in July, the average price of imported cotton price index FCIndex M grade (equivalent to 328 grade cotton in China) was 89.44 cents / pound, and the 1% after customs duty after shipment was 15526 yuan per ton, 2807 yuan lower than domestic price.
Cotton price
It's 2315 yuan lower.
Du Min, a researcher at the rural economic research center of the Ministry of agriculture, recently said on the "2010 cotton Market Summit Forum" hosted by Wanda futures, the cotton production situation in 2010 is still not optimistic, and cotton prices will probably remain high, making the risk of cotton production and textile enterprises increased.
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