Cotton Procurement Update

By CnAgri2012-10-31 13:08:51 Print China Cotton Reserves Corp. planned to procure 131,000 MT new cotton on October 26, including 47,000 MT in Xinjiang and 84,200 MT in other provinces. The company actually procured 71,360 MT, including 44,600 MT in Xinjiang and 26,760 MT in other provinces, suggesting a close rate of 54.39%, 94.89% and 31.78% respectively.
 
    By October 26, the company’s procurement totaled 1.544 million MT this year, including 1.165 million MT in Xinjiang and 378,480 MT in other provinces, representing a close rate of 54.39%, 90.73% and 29.87% respectively. Of the total, 101,200 MT were procured in Hubei, 94,600 MT in Shandong and 56,300 MT in Hebei, more than that in any other province.
 
    Grade Three seed cotton procurement price went up 3.13% last week over the outset of the procurement, but dropped 0.39% on the year-on-year basis.


From “China Cotton Market Bi-Weekly Report”