Second Years Of Implementation Of The Purchase And Storage Policy, The First Time To Control The Price Of Cotton

2012 year of market concern cotton The temporary storage and purchase has started recently, and there is a parallel process with the state throwing and storing cotton. Although the deadline for dumping is at the end of this month, the storage will continue until next March. Insiders pointed out that the purchase and storage policy showed the determination of the country to maintain the stability of the cotton market, and cotton prices will also be affected smoothly by this influence.

In September 10th, 2012 cotton temporary storage and purchase was officially launched. The cotton temporary storage price was set at 20 thousand and 400 yuan / ton, 600 yuan / ton higher than last year.

Correspondingly, the cotton throwing storage will continue in September 3rd until September 29th. During this period, cotton purchase and storage, dumping and storage double track parallel, is the first time in history. "We must safeguard the interests of cotton farmers, and take into account the needs of downstream textile enterprises. The policy is indeed quite complicated. The determination of the state to maintain stability in cotton market is obvious." "A leader of the galaxy futures Department of cotton industry said in an interview with our reporter.

Cotton market has become a policy city, and the price range of cotton prices is clear at a glance. "The purchase and storage of the rail is 20 thousand and 400 yuan / ton, throwing and storing down the track is 18 thousand and 500 yuan / ton, equivalent to the state has set the upper and lower track, the opportunity left to the market will not be many." Insiders told reporters analysis.

　　 Collecting and storing "reservoir" to protect cotton farmers' interests

From last year's peak of 34 thousand yuan per ton to the current 19 thousand yuan per ton, domestic cotton prices have experienced a dire plunge. At present, the new cotton has begun to appear on the market. The temporary purchase and storage of cotton will start in a timely manner. It will undoubtedly help further stabilize the market expectations, protect the interests of cotton farmers and promote the smooth operation of the domestic cotton market.

The temporary purchase and storage cashed out the plan for the temporary cotton purchase and storage in 2012, issued in early March this year. According to the seed cottonseed price 37%, cottonseed price 1 yuan ~1.2 yuan / Jin and reasonable acquisition processing fee, the corresponding reference price for seed cotton purchase is 4.2 yuan ~4.35 yuan / Jin, which is about 0.1 yuan / Jin over the previous year's purchase price.

As of 18, the 2012 national cotton temporary storage and storage totaled 350 thousand tons and 1.492 tons.

The low volume is mainly due to the fact that at the early stage of acquisition, new cotton has just been listed, and there is not much cotton in the processing enterprises, and it is very difficult for processing enterprises to get the loan approval of the Agricultural Development Bank in a short time. "Although we are still acquiring new cotton and do not take part in notarization inspection, the purchase and storage of the Central Cotton store will last until the end of March next year, and there will be enough time for operation and storage." Guo Yinying, Hubei Baiyin cotton industry information center, said.

It is understood that cotton is temporary in 2012. Purchasing and storage policy The implementation of the second years will continue to play a role in regulating cotton reservoirs. The reserve cotton related people said that the actual storage and storage of 3 million 255 thousand tons in 2011 reached a record high, accounting for about 50% of the total cotton output in that year.

Liang Jie, a futures analyst at Yangtze River, expects that a large number of cotton textile enterprises in the lower reaches will stop production and switch to production, and will still absorb large quantities of newly produced cotton at the end of this year's domestic and foreign consumption downturn.

　 Enterprises are not enthusiastic about closing the month.

And not long ago, the state began to put some cotton in the 2011 part of the market in September 3rd. Xinjiang cotton, which is temporarily collected and stored in 2011, is based on the current domestic market price of 18 thousand and 500 yuan / ton (standard class), and is traded through the national cotton trading market.

As the price of the reserve is 1300 yuan / ton lower than the last year's purchase and storage price, plus the monthly cost of capital and inventory of 200 yuan / ton, the cost of one year is 2000 yuan / ton. Therefore, dumping is equivalent to a loss of more than 3000 yuan per ton, and a loss of 9 billion yuan in 3 million tons of cotton. "For the central storage cotton, this is a compromise strategy." Li Liheng, a cotton analyst at the business community, said. "Domestic and foreign cotton enterprises are strongly demanding that cotton quotas should be liberalized and imports increased if the difference between domestic and foreign prices is as high as 4000 yuan / ton. The NDRC can not liberate import quotas, so it has adopted the method of throwing and storing. However, the throwing and storage will benefit cotton spinning enterprises, and will also bring pressure on cotton purchasing and processing enterprises. Liang Jie said. Li Wei, an analyst at Zhongda futures, believes that this is a way out for the huge national cotton reserves, in fact, in order to better regulate the market, and more conducive to the stability of cotton prices.

As of 19 days, the total amount of cotton put in was 277 thousand and 600 tons, with a cumulative turnover of 48.53%. Reserve cotton continued to put in, but auction average price and turnover rate continued to decline, which was lower than spot price, and the lowest proportion of transactions was 20%.

Liang Jie analysis pointed out: "this is because businesses that want to buy goods have already bought them. Enterprises have no funds, no orders, and more importantly, even if the price of throwing storage is far lower than the price of storage and purchase, it is still much higher than the price of outer cotton, and domestic cotton yarn is not competitive. Terminal consumption is low, domestic and international economic environment has not yet been improved, and textile enterprises are in the inventory stage, so it is not difficult to understand why the purchasing power of enterprises is difficult to continue. {page_break}

However, dumping will be suspended at the end of the month. Zhang Xianbin, head of the economic and Trade Department of the national development and Reform Commission, said that the purpose of putting cotton reserves was to meet the needs of textile enterprises. In October, new cotton had been listed in large quantities, and the reserve was not necessary. After the approval of various departments, the deadline was September 29th, and the bidding deadline for textile enterprises was September 20th.

　 Cotton price shocks rise

Zhang Xianbin said on the 18 day that it will unswervingly implement the current cotton purchase and storage policy. This good news has made cotton futures price higher, and the main contract has increased by 1.3% a day, and the volume has increased nearly 6 times compared with the previous trading day. CF1301 closing price of 19810 yuan / ton, daily turnover of 476044 hands, holdings increased 25414 to 247378 hands; F1305 closed at 19850 yuan / ton, daily turnover of 69234 hands, positions 364 364 to 111230 hands.

But on the 19 day, Zheng cotton immediately reduced the position, and the transaction contracted. The CF1301 contract opened at a low level, and after a wide concussion in early trading, it fell down under the pressure of long liquidation.

Wei Wei, a futures analyst in Shanghai, believes that the purchase and storage will boost the price of the period and bring it closer to 20400 yuan / ton. But lint's long-term trend depends on demand.

Cotton rose sharply in 2010 because of low output and high demand. Subsequently, the global cotton planting area increased, cotton prices were suppressed, and the macroeconomic downturn also led to a decrease in demand for cotton, resulting in a "roller coaster" market for cotton prices.

This year, textile enterprises are facing the dilemma of high priced inventory and difficult terminal demand, and cotton prices are falling naturally. "It is precisely because of the purchase and storage of last year that the cotton market has steadily recovered to its present position. If there is no support for storage this year, the cotton price next year may even fall to 13000 yuan / ton. Liang Jie said.

From 2012 to August, the price of domestic cotton spot market rose slightly, and the trend was stable. Chinese cotton net personage thinks, gauze Market is difficult to keep warm, textile enterprises generally expect pessimism. Cotton price Downward pressure will run throughout the year.