Acquisition Of New Territories Cotton To Stabilize Domestic Market

In October, domestic cotton purchase and sale prices continued to fall, and the progress of purchase and sale was slower than that of last year.

International cotton prices plummeted and cotton imports dropped sharply.

Textile production export growth continued to slow down.

First, domestic cotton prices continued to decline. In October, domestic cotton purchase and sale prices continued to decline, due to financial constraints and unsmooth export of textile enterprises.

The average purchase price of the 3 grade seed cotton in the mainland is 2.75 yuan / kg (folding cotton lint 577 yuan / load), down 0.18 yuan / Jin, or 6.1%; the average purchase price of 3 seed cotton in Xinjiang is 2.57 yuan / kg (folded cotton seed 548 yuan / load), down by 0.15 yuan / Jin, or 5.5%.

The average price of the standard grade lint from the mainland to the textile mill is 12445 yuan / ton, down 685 yuan from the previous month, or 5.2% yuan. The average price of the contract for electronic matching of the national cotton trading market in December was 12290 yuan / ton, down 628 yuan from last month, or 4.9%; the average price of Zhengzhou cotton futures contract in November was 12335 yuan / ton, down 683 yuan, or 5.2%.

The progress of new cotton purchase and sale is slower than that of last year.

According to the national cotton market monitoring system, as at the end of October, the picking rate of farmers' seed cotton was 78.9%, down 1.7 percentage points compared with the same period last year; the cumulative sales rate was 54.8%, down 4.1 percentage points compared with that of the previous year; the cotton processing rate of cotton purchasing processing enterprises was 45.2%, down 14.8 percentage points year-on-year; the average sales rate was 19.7%, down 17 percentage points compared with the same period last year.

Two, the state has bought and sold part of the cotton stabilized market, and the acquisition of Xinjiang cotton has accelerated the continuous decline of cotton prices in the domestic market since the new cotton market has been on the market since October. The state has launched an emergency plan for storage and storage. After receiving and storing 220 thousand tons of Xinjiang cotton from October 21st to 24, it also urgently asked the State Council to increase 1 million tons of state reserve cotton temporary purchase and storage plan. After approval by the State Council, it began organizing the implementation in October 29th.

By the end of October, a total of 54 thousand tons of temporary storage and storage had been accumulated.

Affected by the purchase and storage, since the end of October, the domestic market has made progress in the acquisition of cotton, the purchase price has stabilized, and the price of lint sale has slowed down.

Among them, Xinjiang seed cotton sale progress is faster, as of the end of October, Xinjiang farmers cotton seed sale rate was 79.5%, an increase of 26.3 percentage points over the same period.

If the market price of cotton continues to fall after the 2/3 of the existing storage and purchase plan is completed, further increase in the number of temporary reserves will be studied.

Three, cotton prices plummeted in the international market. In October, the US financial crisis escalated further, and the signs of economic recession in major developed countries were obvious.

In October, the average price of New York cotton futures contract in December was 50.57 cents / pound, down 12.75 cents / pound from the previous month, or 20.1%, and the Asian main port CIF 67.44 cents / pound, down 9.66 cents / pound, or 12.5%.

According to the 1% tariff, the cost of import of RMB is 11989 yuan / ton, which is lower than the domestic market of 456 yuan / ton. According to the sliding tax, the cost of import is 13164 yuan / ton, which is 719 yuan / ton higher than the domestic market.

Four, cotton imports have been greatly reduced, due to the poor export of textiles and the high cost of sliding quasi tax imports. Cotton imports have dropped significantly this month.

According to customs statistics, in October, China imported 96 thousand tons of cotton, a decrease of 29.8% compared with the same period last year, and a decrease of 25.4% in the annulus.

In 1-10 months of this year, China has imported 1 million 866 thousand tons of cotton, 169 thousand tons less than the same period last year, and a decrease of 8.3%.

Five, textile production export growth continued to slow down in October, the national yarn production 1 million 861 thousand tons, an increase of 6.3% over the same period last year, an increase of 6.2 percentage points year-on-year decline.

In the 1-10 month of this year, the total output of national yarn was 17 million 820 thousand tons, up 9.2% from the same period last year, an increase of 9 percentage points lower than that of the same period last year.

According to the customs express statistics, in October, China's textile and clothing exports were 16 billion 750 million US dollars, up 12.5% from the same period last year, an increase of 8.1 percentage points year-on-year.

In the 1-10 months of this year, China's textile and clothing exports were US $153 billion 700 million, an increase of 8.6% over the same period last year, an increase of 11.5 percentage points over the same period last year.

In October, the price of cotton yarn and polyester staple fiber continued to decline, due to the weakening of downstream demand and the fall in crude oil prices.

The average monthly price of 32 Cotton Combed Yarns was 19355 yuan / ton, down 349 yuan / ton from last month, or 1.8%, and the average price of polyester staple fiber was 9204 yuan / ton, down 1685 yuan / ton, or 15.5%.

The difference between mainland standard grade cotton and 32 Pure Cotton Combed Yarns was 6910 yuan / ton during the month, and the difference was 3241 yuan / ton with polyester staple.