Progress of Cotton Procurement By Jan 25

By CnAgri2013-01-30 11:19:56 Print     Due to bumper cotton harvest and substantial imports, cotton stock has swelled this year, exerting a pressure on cotton market price. Thanks to the government’s massive cotton procurement, cotton price is stable at present.

    By Jan 25, cotton procurement for short-term state reserve totaled 5.950million MT this year, including 2.511million MT in Xinjiang , 1.880Million MT in other provinces, and 1.560million Mt  in  key enterprise in Xinjiang
accounting for 25.76%, 22.18% 17.34%，7.86%and 6.83% of the procurement Volume. in Hubei，Shandong and Hebei, Hunan and  Jiangsuof the nation’s total (Xinjiang and key enterprise excluded) respectively.

    Especially, hubei has 0.4827 Million Mt short-term reserve, so we adjusted its produnction up to 0.562Million Mt, total production is 7.602 Million Mt in China of 2012 crop year.

    The procurement price of Grade Three seed cotton went down 0.09% last week over the outset of the procurement and 2.78% over the same period of last year. The average seed cotton procurement in this year is parallel to last year, conducive to stable cotton acreage next year.

From “China Oil and Oilseeds Market Weekly Report”