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High Tech Seed Cotton Purchase Price Forecast Higher
? According to the announcement on the central reserve cotton rotation in 2021, 600000 tons of reserve cotton will be put into the national legal working days from July 5, 2021 to September 30, 2021.
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In terms of price, the bottom price of listing sales is determined dynamically according to the market and linked with the spot price of cotton at home and abroad. It is determined by the cotton spot price index in the domestic market and the cotton spot price index in the international market according to the weight of 50%, which is adjusted once a week. During the rotation period, when the cumulative decline of cotton spot price index in the domestic market exceeds 500 yuan / ton for three consecutive working days, trading will be suspended from the next working day; When the cotton spot price index in the domestic market does not fall for three consecutive working days, the trading will be restarted on the next working day.
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Reserve cotton rotation price policy, strong support of cotton futures prices. At the same time, due to the lack of low-cost cotton in China, the transaction rate of reserve cotton has been maintained at 100% since the auction, and the price has been rising continuously, and the trend of futures and spot is synchronized. As of July 29, the average transaction price of reserve cotton increased from 16400 yuan / ton on the first day of auction to 17504 yuan / ton, up 6.73%. From July 5 to July 29, the total transaction volume was 181533.6253 tons, with a turnover rate of 100%.
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Due to the rising market price and the increase of cotton planting cost in this year, according to the experience of Xinjiang cotton ginning plant's rush to harvest last year, the market generally expects a higher price of seed cotton.
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