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Excessive Cotton Speculation Causes Jiangsu Cotton Prices To Continue To Rise

2010/10/23 14:01:00 52

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Cotton Cotton Price Speculation

"In mid October, the weather in Jiangsu is better.

cotton

The progress of picking and selling should be speeded up. "

Reporters from yesterday

Cotton Association

It was learned that as of October 20th, the cotton picking rate in the whole province was 56%, while the cotton farmers only had 36% progress in the sale of cotton, and the progress of picking and selling was obviously unbalanced.

Xinghua's cotton sales have accounted for 94% of the total picking capacity, while Fengxian County's proportion is only 10%.

Experts from the provincial Cotton Association admitted that excessive speculation has been pushing up cotton prices in Jiangsu and causing serious cotton farmers' reluctant sale.

According to the cotton association of Jiangsu Province in North Jiangsu cotton area survey, when the cotton purchase began in September 16th, three grade seed cotton 7.7 yuan / kg, in October 7th rose to 10.1 yuan / kg, in October 16th has risen to 11.3 yuan / kg.

"A month's increase is up to 46.75%! The moderate and reasonable rise of cotton prices is necessary, but excessive speculation is not conducive to industrial development."

According to the Jiangsu Agricultural Development Bank, the Agricultural Development Bank has made many restrictions on the loan and conditions of the cotton purchasing body from the perspective of controlling risks. Now the proportion of the funds allocated by the Agricultural Development Bank in the acquisition of cotton has dropped to only 1/5.

But small traders and brokers showed their talents. They raised a lot of social capital to buy cotton, with a capital ratio of five points.

"Social capital flows into malicious speculation is constantly pushing up.

Cotton price

An important factor. "

Analysis of the industry, due to the shortage of cotton resources, cotton purchase this year also appeared in some places to ignore the quality, rush to buy resources, cotton mixed mixed grade serious, adulterated miscellaneous, water exceeded the standard, seriously affected the quality of cotton purchasing.

In the past, under the intervention of the relevant government departments, the "two small and one soil" cotton processing points basically disappeared in the cotton fields in Northern Jiangsu.

This year, due to the shortage of cotton and the rise in prices, these cotton processing sites are reviving again.

Yancheng, Nantong and other old cotton area "two small one soil" processing points, have joined the ranks of cotton purchase, they cost low operation flexibility, to cotton price irrational rise to play a role in fueling.

Recently, the provincial Cotton Association convened some backbone textile enterprises and cotton circulation enterprises, analyzed the current cotton purchase situation, and worried about the acquisition of cotton this year.

The cotton association of Sheyang County reflected that only 500 thousand tons of seed cotton sold by farmers, only 20% of qualified takeover enterprises accounted for about 60%, and about 60% of cotton was hoarded in the hands of brokers.

Because cotton resources can not enter the large cotton ginning processing enterprises in time, it has already affected the processing and supply of cotton textiles. Later, it will pmit the influence to more textile enterprises.

"Cotton purchase is an important part of the cotton industry chain, and bad development will affect the healthy development of the whole industry chain."

The provincial cotton association suggests that cotton production in Northern Jiangsu must pay attention to the problems in cotton purchase. Cotton circulation is not equal to laissez faire. The local government should raise the threshold for cotton purchase.

Government departments should actively guide cotton growers to sell cotton to qualified purchasing sites from the perspective of protecting resources so as to effectively protect their own interests.

At the same time, all localities should ensure the quality of cotton, ensure superior cotton prices, and make reasonable pricing according to market rules. On the one hand, we must ensure that cotton farmers can sell the right price. On the other hand, we must prevent hot money from pouring into malicious speculation, and disrupt market order and price order.