Cotton Futures Decline Difficult Target Price Start To Safeguard Cotton Farmers' Interests
Facing the change of cotton production and market situation, the Agricultural Development Bank of China will continue to play the main role of cotton purchasing capital supply when the acquisition of new cotton is coming. At present, 60 billion yuan has been prepared to make money and other cotton.
The cotton temporary purchase and storage system, which began in 2011, has been officially abolished this year. Since the implementation of the temporary cotton purchase and storage policy, the domestic cotton price has been falling in 3 years, and in September 5, 2014, it has achieved a new low of 13595 yuan / ton in 3 years.
It is reported that the current national cotton subsidy is expected to have no lower limit in the new year, and there is no policy support below Zheng cotton.
From the perspective of supply and demand, the cotton spot market has been sluggish recently, resulting in the atmosphere of the futures market empty. The details of the direct subsidy policy to be published will become the focus of the current game.
Approved by the State Council, the target price of cotton in 2014 has been announced to be 19800 yuan per ton.
The price division of the national development and Reform Commission introduced the target price subsidy, saying: from this year's situation, the market price is definitely less than 19800 yuan, how much lower and how much the state subsidize.
In this regard, Chen Xiaoyan, an analyst with Galaxy futures, thinks that the market price corresponding to the target price is the average price.
Cotton grower
As a reference to the selling price alone, we still hope that you can grow more cotton and cotton.
The price drop is not terrible. There are also subsidies.
Dong Shuangwei, general manager of Beijing Di AI Si Wu Cci Capital Ltd, believes that the firm launch of the pilot cotton target price reform is a brand new stage that China has consistently adhered to in the market reform of agricultural products (000061 shares).
The purpose is to give full play to the decisive role of the market in the allocation of resources under the premise of protecting the interests of farmers, and to decide the price formation to the market, so as to promote the coordinated development of the upstream and downstream industries.
Future
Cotton market
The fluctuation of prices will be more determined by its own supply and demand relationship, market participants and so on, and the role of market regulation will be more changed to the "price premium separation" level.
In April this year, the state has made clear that the target price of cotton in 2014 is 19800 yuan per ton.
The form of subsidy and the specific operation process will be clearly defined by the implementation rules of Xinjiang's target prices. When the cotton market in China has entered the 2014/2015 year, the announcement of the rules will also be announced soon.
Dong double Wei
It is considered that from the current situation, the reference weight of target price subsidy includes planting area and output, and the difference between subsidies is the difference between average price and target price in the period of price.
The period from September to November will be the seed cotton price during the implementation of target price subsidy.
The subsidy is divided into two steps. First, when the market price is closed (-11 months) in September, if the market price is lower than the target price, the central government will approve the total subsidy to Xinjiang according to the difference between the target price and the market price and the output of the National Bureau of statistics.
Two, the Xinjiang autonomous region is responsible for the timely and full payment of the subsidy funds allocated by the central government to the growers in accordance with the specific subsidy measures.
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