International Cotton Inventories Decrease, Domestic Cotton Stocks Remain High

< p > the International Cotton Advisory Committee (ICAC) has lowered its 2013/14 crop year global a target= "_blank" href= "http://www.91se91.com/" > strong > cotton < /strong > /a > output and end of stock forecast, though the stock is still expected to be higher than the current crop year.

ICAC said Monday that by the end of July 2014, the world's stock was 18 million 510 thousand tons, and ICAC had lowered its forecast by 130000 tons in June.

The change is due to ICAC cutting its global output forecast by 140000 tons to 24 million 950 thousand tons.

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< p > ICAC has predicted that the global inventory will be 17 million 880 thousand tons at the end of the current crop season in July, and this figure is expected to rise.

The Organization predicted that the world's largest a target= "_blank" href= "http://www.91se91.com/" > strong > textile < /strong > /a > China's fiber demand continued strong.

ICAC said in a statement that China's intention to tighten monetary policy has had an impact on China's spinning mills.

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< p > ICAC said that the textile mill reduced the purchase of China's cotton reserves, because the purchase of cotton reserves required payment delivery, and they expanded the import of 90- day letters of credit.

At the end of June, China's national cotton reserves were estimated to be close to 9 million packages. ICAC pointed out that China's share of world stock is expected to increase.

"Although global end stocks in 2012/13 are expected to be evenly split between China and the rest of the world, China expects to hold nearly 60% of global inventories by 2013/14," ICAC said.

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< p > forecasts emphasize the classification of the world cotton balance sheet.

Although global inventories continue to rise, stocks held by China continue to grow.

Since 2011, Beijing has built up reserve stocks, which are paying more than the global price to support domestic farmers.

China's policy is also pushing up global cotton prices, as Chinese textile mills turn to cotton and compete against high domestic prices.

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"China's cotton policy is still the main driver of world cotton prices," ICAC said in a statement on Monday, P.

Global production is expected to continue to outpace overall consumption, "ICAC said.

The output of 2013/14 will reach 24 million 950 thousand packages, and the annual output of the current crop will be 26 million 930 thousand packages.

Consumption is expected to be 24 million 330 thousand packs, up from 23 million 780 thousand packages in 2012/13.

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< p > according to the forecast, China's cotton planting area in 2013 was 70 million 650 thousand mu, a decrease of 3 million 430 thousand mu compared with that of the previous year, with a reduction of 4.6%. The total output of cotton in 2013 is 7 million 50 thousand tons, a 5.6% decrease compared with the previous year.

By the end of May, except for summer sown cotton, the cotton pplanting in China basically ended.

At present, the cotton seedling situation in the two river basins is basically the same as that in the same period of the same year.

Pay attention to the influence of late weather on cotton quality.

The adjustment of the corresponding policies is crucial to the development of Chinese textile, < a target= "_blank" href= "http://www.91se91.com/" > strong > clothing < /strong > /a.

However, considering the high domestic cotton stocks in the short term, it is difficult to achieve a change in the short term, and the prospects for the development of the textile and garment industry are still not optimistic.

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