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Cotton High Price Collection And Storage Twisted Chain Textile Industry Suffers

2013/6/5 22:30:00 29

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Since 2011, the purchase policy of the State Cotton store (P) has led to the domestic cotton price rising 4500 yuan / ton in the international market.

At present, the domestic storage price is 20400 yuan / ton. As of May 13th, the international CotlookA index is 1% yuan, the tariff price is 14889 yuan / ton, and the price difference between inside and outside cotton is about 4500 yuan / ton.

reporter survey shows that, after last year's third and fourth quarter cotton collection and storage enterprises are difficult to store and store, cotton farmers are also hard to get tangible benefits. (see our newspaper in November 28, 2012 reported "secret war reserve cotton: the" secret to buy the city "), now, in the middle reaches of the domestic cotton < a target=" _blank "href=" http://www.91se91.com/ "> textile < /a > industry is also undergoing a series of" chain reaction ".

according to our reporter's investigation, under the acquisition policy of the State Cotton store, while the national cotton store itself is losing money and the cotton growers are hard to benefit, it is really the Chinese textile "a target=" _blank "href=" http://www.91se91.com/ "clothing" /a "industry that is actually small profits. Not only the whole industry is being collectively suppressed, but also the ecological chain of China's cotton textile industry has changed, so that some enterprises have to move abroad to look for profits.

while the national cotton reserves that are struggling to maintain high prices, the inventory level of up to 9 million tons has been higher than the annual cotton consumption in China. The pressure on the financial sector caused by the inventory impairment and direct losses faced by the national cotton reserves has become a heavy burden.

in addition, the distortion of price also leads to a series of consequences, such as the corruption of import quota, the loss of pricing function and shrinkage of cotton futures market.

reporter survey shows that the cotton purchase and storage policy is causing the distortion of the whole chain, and the high price storage mode is already at a dead end.

The protection and subsidy of cotton farmers and the protection of cotton planting need to be reconsidered.

up to 4500 yuan / ton price difference

the purchase and storage policy of national cotton stores originated in 2010.

Due to the sluggish cotton market, international cotton prices soared in 2010, up to 32000 yuan / ton, which resulted in a large inventory of state-owned cotton stocks.

Cotton, which was 10 thousand yuan / ton, was 2 times higher.

"the problem is that the national cotton store thinks that this price increase will become the norm, and the more we earn, the more we will earn, so we will open up the purchase, but we do not expect cotton prices to drop sharply after 2011."

A senior cotton market source told our reporter that in fact, the price of cotton in 2010 was more than 1 US dollars / pound, which happened only two times in history.

The other reason is to protect the interests of cotton growers, stabilize domestic cotton planting area and cotton production, and ensure domestic cotton supply. higher price in the international market.

according to the aforementioned senior personage, at the 2011 Cotton Conference, officials from the State Cotton store were preaching. "China is a big country in textile and garment industry. There is a certain rate of cotton self-sufficiency, so we can rest assured that the development of the textile and garment industry needs a certain amount of cotton self-sufficiency, otherwise it will be subject to overseas containment."

but the current situation is that the high price of cotton in China is raising the cost of raw materials in China's textile and garment industry, which is the reason why China's textile and garment industry has become the international competitiveness of China's textile and garment industry.

even according to the current purchase price, according to our reporter's survey of cotton growers in Shandong Province in mid November last year, cotton grower's profit has no comparative advantage, and cotton growers' enthusiasm for cotton planting is not enough.

Quota control on cotton imports has led to corruption, which has led to the purchase and sale of cotton import quotas.

because of the huge price difference between national cotton and imported cotton, the quota of imported cotton has become a tool for some people to make profit. The qualification of one ton of imported cotton is sold to three thousand or four thousand yuan.

Li Wen (a pseudonym) is the head of a private cotton spinning enterprise in Zhejiang. He has his own cotton mill and weaving factory, and 80% of his products depend on exports.

He complained to our newspaper reporters that spinning is now an unprofitable business. Since the implementation of the national cotton purchase policy, it has basically made no profit.

"we have a ton of cotton, which is more than 4000 more expensive than foreign counterparts. The price of imported cotton yarn is even lower than that of the cotton that I use. How can we compete?" Li Wen said. "At present, it is very hard to maintain it hard.

The company has been able to maintain certain exports now, mainly because our workers are skilled and diligent.

Li Wen said that assuming that his company needed 100 tons of imported cotton, he applied to the municipal development and Reform Commission to apply for 100 tons of imported cotton, but the first year of the application would not normally be awarded to him. Generally he would be awarded to him in second years, but generally only half of the quantity was only 50 tons, but after the approval of the provincial examination and approval, it would probably be only 30 tons. As for the other 20 tons, it is often for the people who are connected.

textile and clothing industry predicament

cotton spinning enterprises are facing unprecedented difficulties.

according to our reporter, cotton cost occupies about 70% of cotton mill cost. Because domestic cotton price is about 4500 yuan higher than the price of imported cotton, the cotton textile industry is struggling to maintain, but this maintenance is based on "our workers are diligent".

Less than P, what is more, under the pressure of high cost, Chinese textile and garment enterprises are forced to give up some orders, and the international market share continues to decrease.

More cotton textile industry production chain is pferring to Vietnam, Bangladesh, India and other countries.

It is actually the whole industrial chain of the cotton textile industry that is endangered by the high price of P.

A company responsible for "a target=" _blank "href=" http://www.91se91.com/ "> cloth < /a > dyeing and finishing company told the reporter that he now receives fewer and fewer orders, so the company can only practise" turtle interest law "to minimize business and strive for survival. He even hopes that one day, the RMB will depreciate greatly and the company will get second spring.

although Li Wen's own company can also produce cotton yarn, because the state does not prohibit the import of cotton yarn at present, Li Wen chooses to import some cotton yarn to reduce the cost. He said: "I can not import all cotton yarn, because I can not let the workers in the cotton mill have a holiday. Now they can only continue to survive and produce a small amount of cotton yarn."

a person in charge of a cotton textile foreign trade company in Hangzhou told our correspondent that 2012 was the most difficult day. This year's exports increased by 30%, but the same as last year's income, and this year's appreciation of RMB has made the company's business worse.

But he believes that the way to get rich is that although the state limits cotton imports, it does not restrict imports of cotton yarn. He plans to import cotton yarn to make profits.

although Wang Qiang, general manager of Shandong Ruyi cotton textile group does not expect to abolish the national cotton reserve policy, he told our reporter that he hoped to import a larger amount of cotton and lower the price of national cotton.

Wang Qiang said that most of the new textile manufacturers in India and Pakistan were producing the latest equipment of cotton yarn, which is better than the domestic cotton yarn factory equipment, and the international competition pressure of the industry is very great.

the paradox of China's cotton import control policy is that it controls the import of cotton but does not restrict the import of cotton yarn. This has led many Chinese garment enterprises to import cotton yarn directly from abroad. China has released the added value from cotton to cotton yarn and has greatly pulled up related industries in India and other countries.

cotton consumption in the South Asian subcontinent increased

since 2000, China has gradually established the status of the world cotton consumption center. The world cotton consumption has increased by 22 million packs (4 million 830 thousand tons) from 2000 to 2010, and the cotton consumption of China's textile mill has increased by 22 million 500 thousand packs (4 million 890 thousand tons) .

but after 2010, China's cotton consumption dropped by 14 million packages (3 million 40 thousand tons).

Meanwhile, cotton demand in India increased by 3 million packages (650 thousand tons).

From 2009/2010 to 2012/2013, cotton consumption in the world dropped by 9%, while consumption in China dropped by 28%.

The use of competitive raw material cotton in the P subcontinent of South Asia has expanded its textile production capacity and the demand for cotton is considerable.

Cotton industry believes that India, Pakistan and Bangladesh are replacing China as the world's new cotton consumption center.

from a single country, in 2012, China consumed 7 million 840 thousand tons of cotton, 5.27% less than that of 8 million 270 thousand tons in 2011.

But at the same time, India increased from 4 million 300 thousand tons to 4 million 950 thousand tons, an increase of 15.2%; Pakistan from 2 million 180 thousand tons to 2 million 500 thousand tons, an increase of 15%; Bangladesh from 720 thousand to 810 thousand tons, an increase of 12%.

The total consumption of the three sub continent of South Asia increased from 7 million 200 thousand tons to 8 million 260 thousand tons, and completed the overtaking of China.

In addition, the growth rate of cotton consumption in Vietnam and Thailand in 2012 was as high as 27% and 25%.

On the other side of the coin P, India has taken the initiative to formulate export quotas for cotton and restrict cotton exports so as to enhance competition with China's industrial chain.

Cotton textile industry involves 17 million cotton textile workers in China.

Input-output analysis of the National Bureau of statistics many years ago, the textile industry increased by 1 units per year, and the coefficient of influence on the national economy was 1.25, which was 25% higher than the average value of the industry.

shutting down the cotton mill accounts for about 30%

despite the high quality of the workers in the cotton spinning enterprises, many small and medium-sized enterprises are still unable to sustain the impact, especially the companies producing less than 40 cotton yarn.

the deputy general manager of Suzhou Run Xin Hua Import and Export Co., Ltd., who is specialized in the import and export trade of cotton, chemical fiber and cotton yarn, told our reporter that cotton yarn was not implemented quota management. The huge price difference stimulated a large quantity of imports. From January 2012 to October, 1 million 300 thousand tons of imported cotton yarn accounted for 20% of the domestic yarn, and he reckons that the import of cotton yarn last year directly caused about 15 million scale spindles shutting down in the country, and more than 200 thousand of the textile workers were unemployed.

normal year, the annual cotton consumption in the 10 million tons, in the implementation of State Cotton Storage in the past two years, dropped to about 7 million 800 thousand tons.

He Yinguan said that this year, the country's cotton output is 7 million 400 thousand tons, which has been collected and stored at 6 million 500 thousand tons. From January to April, it dropped 1 million 310 thousand tons, imported 1 million 790 thousand tons, totaled 3 million 100 thousand tons, minus the increase factor of inventory, the amount of 700 thousand tons per month, and imported yarn 640 thousand, an increase of 51% over the same period last year, equivalent to the use of 220 thousand tons of domestic cotton reduction.

he reckons that the domestic scale of shutting down spindles should be between 18 million and 20 million spindles, accounting for about 20% of the total size from two data of cotton reduction and import yarn increase.

Because most of the small and medium-sized enterprises that are closed down are less than 50 thousand spindles subsidized by the state, the number of shutting down mills will account for about 30% of the total quantity.

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He Yinguan said that the failure of the cotton mill is not related to the technical pformation, pformation and upgrading of the experts or the relevant leaders.

He believes that there are basically three types of bankrupt cotton mills, the first is the small and medium-sized enterprises which have no import quota subsidies, two are those with insufficient funds, and three are enterprises that have invested heavily in technological pformation over the past two years.

"What businesses lack most is not capital, but what they lack is profitability."

from 2012, the listed cotton spinning enterprises are basically losing money across the board.

In addition, according to the National Bureau of statistics, the total industrial output value of China's Cotton Textile Enterprises above designated size increased by 14% over the same period from January to February this year, and the deficit of the deficit companies decreased by 18% compared with the same period last year.

from the actual situation of China Cotton Textile Industry Association, the loss of industry has been narrowed. However, most enterprises reflect that at present, the order of enterprises is still mainly based on volume and almost no profit margins, especially for small and medium-sized enterprises.

customs data show that in March 2013, China exported about 16 billion 721 million US dollars in textile and clothing, a decrease of 11.01% compared with the same period last year, a decrease of 24.41 percentage points over the same period last year.

Customs statistics show that textile and garment exports amounted to US $22 billion 300 million in April, up 18.5% over the same period last year.

In April, the sale of cotton textiles again turned to light, the price dropped slightly, the differentiation among enterprises was obvious, and a few high-end enterprises had sufficient orders and better profits. Most of the small and medium enterprises made small profits or even lost money, and the rate of starting up was significantly lower than that in the first quarter.

an expert wrote that the reasons for the excessive cotton price at home and abroad have led to a sharp decline in domestic cotton consumption, which directly caused the shortage of cotton and the majority of warehousing.

The development of textile industry originally absorbed a large number of rural labor force, which aggravated the unemployment of textile industry at present.

pfer overseas

The price of Tianhong textile listed in Hongkong has risen from 2.45 Hong Kong dollars / share in October 2012 to more than 11 Hong Kong dollars / share in P.

Such a huge increase is due to the earlier "going out" of the company and the realization of its profits from investment and construction in Vietnam.

Tianhong textile decided in 2006 to invest and build textile factories in Nye province near Vietnam, Hu Zhiming.

its 2012 annual report shows that the turnover of Tianhong textile in 2012 was 7 billion 341 million 500 thousand yuan, and the profit in the year increased by 7 times to 486 million 300 thousand yuan, and the profit per share also jumped 7 times to 0.55 yuan from 0.07 yuan in 2011.

The gross profit margin of the company increased from 8.1% in 2011 to 15.3% last year.

The reason is that there are factories in Tianhong in Vietnam, and the purchase of cotton in the international market is 3000 yuan to 4000 yuan cheaper than that in the domestic market.

Compared with P, Lu Tai A is one of the largest cotton spinning enterprises in China. Its total revenue from January 2012 to September was 4 billion 207 million yuan, down 5.77% from the same period last year, and its net profit attributable to shareholders of listed companies was 461 million yuan, down 35.63% compared with the same period last year.

Tianhong textile started construction in July 2012 in the northern Vietnam's new factory, with a total investment of about 1 billion 100 million yuan and an increase of about 400 thousand spindles. P

In addition, Tianhong textile also plans to invest 400 million yuan to build textile factories in Uruguay, South America.

It is estimated that after the completion of all the projects, the processing capacity of Tianhong textile will increase from the current 1 million spindles to about 1 million 500 thousand spindles.

cotton price of cotton spinning enterprises is much higher than that of the international market. The national cotton reserve policy tries to digest cotton which is far higher than the international market price through cotton textile enterprises, and the result may be that China has handed the cotton spinning industry chain to Southeast Asian countries.

Gao Yong, vice president and Secretary General of the China Textile Industry Federation, once said, "from now on, enterprises with export orders are better to build factories in Southeast Asia.

And this trend of "going out" will remain for several years.

if the cost of other links in the domestic cotton textile industry chain, such as labor, energy, taxes and so on, is far lower than the foreign market, domestic cotton spinning enterprises can digest the price difference of cotton.

However, our labor costs have risen rapidly in recent years, and the appreciation of the renminbi has greatly increased, which poses a great threat to the survival of the cotton textile industry.

Vietnam not only costs less than half the labor cost, but also the Vietnamese government stipulates that foreign investment companies will be exempt from income tax for 3~4 years from the first profit year, and then the income tax of 7~9 will be reduced by half (about 12.5%).

Wang Qiang told our reporter that "Tianhong, Bailong and Huafu did very well in Vietnam".

Compared with P, cotton spinning enterprises in China are struggling to survive, and cotton mills in 2012 are losing money.

Southwest Securities analyst Xu Yongchao believes that the internal and external Khmer price difference has hijacked the entire cotton spinning industry, and the export of cotton textile enterprises is relatively large. Cotton textile is located in the middle reaches of the textile and garment industry, and the market is completely competitive. The price of cotton yarn and cotton cloth depends on the overseas market. Chinese enterprises have no pricing power in the international cotton yarn market, so the cost of domestic high priced cotton textile enterprises is difficult to pass on to domestic and foreign downstream garment enterprises.

cotton futures market is dead.

"our cotton futures once thrived and surpassed the US. However, the Zhengzhou cotton trading main contract, which once ranks first in the world, is now reduced to less than 10 thousand hands per day. It used to be 1 million hands and about 3000000 hands at the peak."

He Yin official told this reporter.

the futures market has completely lost its price function due to the price fixing of cotton by the State Cotton store.

In fact, there are many prices in the cotton market. The national storage and storage price is 20400 yuan / ton, but at 19000 yuan / ton auction, both prices are higher than the international market. What is the margin of the futures market?

why does the futures market shrink? A cotton futures market told our reporter that at present, the cotton futures market has neither the hedging function nor the investment and speculation function. "The function of the futures market is speculation and hedging. Through full circulation and paction, the price is found, but after implementing the national cotton reserve policy, the cotton price is actually determined by the state and the market has lost its role."

in addition, due to two consecutive years of storage, especially in the 2012/2013 storage capacity of more than 6 million tons, only a small amount of cotton in the market can not reach the storage conditions, and the spot market after receipt and storage is seriously lack of liquidity.

Xu Aixia, a researcher in the cotton industry of China Everbright Futures Co., told our reporter that although they have been throwing away their stores, they basically enter the terminal directly, and rarely enter the circulation link.

In addition, the spot market has no market price, but also makes futures lack of spot guidance and support, resulting in shrinkage of futures trading positions.

according to statistics, as of February 1st this year, China's cotton purchase and storage totaled about 6 million 150 thousand tons, accounting for 83% of the 7 million 400 thousand tons of cotton output this year.

small production and big market failure

"the starting point for our implementation of national cotton reserves is good."

Wang Qiang believes that the main purpose of national cotton reserves is to stimulate the enthusiasm of cotton farmers to grow cotton.

according to our reporter's previous investigation in Shandong, the cost of cotton production mainly includes seeds, fertilizers, pesticides, electricity charges, drainage fees, labor costs and other production costs.

However, compared with other cash crops, although the current state has greatly increased market cotton prices through the national cotton reserve policy, in fact, for farmers, planting cotton is still not as cost-effective as planting other cash crops.

according to our reporter, except for the Xinjiang area, cotton is mostly produced by means of one household. This mode of production makes cotton varieties promiscuous, and cotton farmers easily mix exotic fibers into cotton when picking and airing cotton, thus reducing the quality of cotton.

It is also not conducive to the promotion of new cotton technology and production means. The contradiction between "small production" dispersed by cotton farmers and the "big market" at home and abroad has greatly affected the competitiveness of cotton.

In 2000, the average planting size of cotton in the United States has reached more than 180 hectares. The average size of cotton in Australia is no less than 1000 hectares. In recent years, the planting area of some farmers has expanded a lot, but there is still no scale for production in P.

in the United States and Australia and other cotton exporting countries, the main part is large-scale cotton cultivation, relying on mechanical operation, and then the government subsidized farmers to stimulate cotton planting.

Wang Qiang believes that the price difference between Chinese and foreign cotton is too large, mainly because of the mechanized operation of American cotton and Australian cotton, so as to reduce production costs, while the government also provides high subsidies.

"China's cotton temporary purchase and storage plan" in 2013 shows that in 2013, China will continue to open up storage and storage, and the price of temporary storage and storage will remain unchanged compared with the previous year. It will still be 20400 yuan / ton, and the quality of storage and purchase will be carried out according to the new cotton standard.

but according to the survey data of China Cotton Association, China's intention to plant cotton was reduced by nearly 10% in 2013, and the intention to reduce cotton planting showed a trend of expansion. According to the same caliber, it is estimated that the area of cotton planting will be reduced from 6 million 500 thousand Mu to 70 million mu.

compared with other crops such as corn, cotton is prone to plague. It needs spraying pesticide, cotton field management and fertilization. There are many processes. Moreover, after the purchase price of wheat and corn rises, cotton consumes more manpower, but the income is not high.

He Yinguan believes that the state's cotton storage policy has invested a lot in the country.

According to the calculation of 8 million tons of warehousing, the state has invested 160 billion yuan in storage and storage, which needs to pay 10 billion yuan in bank interest each year and about one billion yuan in warehousing costs.

for storage and storage enterprises, compared with the normal market, the increase in storage costs more than 200 yuan per ton, resulting in about 1 billion 600 million of social resources wasted.

If we compare the price of cotton in the international market, the value of this huge inventory will be greatly reduced, and the quality of cotton in stock will continue to decline.

The result is to promote the development of China's textile enterprises in the international market, such as India.

"the state has invested a lot of financial resources to protect the interests of cotton growers. However, the state's investment in storing and storing has not all fallen into the hands of cotton farmers. There are also: the storage and storage enterprises, logistics warehousing enterprises, and India, Pakistan and other export cotton yarn to China's textile enterprises.

Besides the national finance, the direct loss is also domestic cotton spinning enterprise and domestic cotton mill worker. "

He Yinguan said.

Wang Qiang said that cotton planting outside Xinjiang is a household operation and can not carry out large-scale mechanization.

Direct subsidy to cotton farmers is a road, but it is too large to carry out. It has not been discussed for many years.

"but from the current situation of the acquisition of State Cotton stores, the high price acquisition policy kidnapped the whole industry, and the national cotton store itself is also losing money and struggling to operate."

The senior official said.