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    Ministry Of Agriculture And Rural Areas: Analysis Of Supply And Demand Situation Of China'S Agricultural Products In May 2020 (Involving Cotton Part)

    2020/5/15 11:42:00 0

    Agricultural ProductsSupply And Demand Analysis

    This month, it is estimated that cotton production and consumption will not be adjusted in 2019/20. Affected by the gradual implementation of the first stage economic and trade agreement between China and the United States and the low international cotton prices, cotton imports have increased by 300 thousand tons to 2 million tons. The final inventory is raised from 300 thousand tons to 7 million 730 thousand tons. ?


    This month, the cotton planting area in China was 3 million 211 thousand hectares in 2020/21, 2.7% less than the previous year. In 2020, Xinjiang's cotton target price remained unchanged at 18600 yuan per ton, stabilizing the farmers' expectation of planting cotton, and the area of cotton planting in Xinjiang was 0.5% lower than that of the previous year. The cotton growing area in the mainland has low yield, high labor opportunity cost and difficulty in mechanization promotion. The cotton planting area continues to shrink, which is 11% lower than the previous year. The climatic conditions of cotton planting are generally suitable. The cotton yield per unit area is estimated at 1770 kg per hectare, a slight increase of 0.7% over the previous year. Cotton production was 5 million 680 thousand tons, down 2% from the previous year. IMF forecasts that global economic growth will rebound to 5.8% in 2021, and the export of textile and clothing is expected to improve in the new year. Cotton consumption will be 7 million 800 thousand tons, an increase of 570 thousand tons over the previous year. In the new year, the global cotton supply and demand pattern is loose, stock is the highest in the past five years, and the international cotton price interval forecast has been reduced to 60-75 cents per pound.


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