National Purchasing and Selling of Cotton on March 18th

By CnAgri2013-03-21 13:38:56 Print On March 18th, China National Cotton Reserves Corporation announced that it was  planned to purchase 2012 cotton 92720MT and the actual listing turnover quantity is 16120MT with turnover rate of 17.39%, among which, 72120MT is planned to purchase from inner land and the actual turnover quantity is 15129MT( Anhui, 810MT, Hebei, 4860MT, Henan, 2190MT, Hubei, 1530MT, Hunan, 300MT, Jiangsu, 150MT and Jiangxi, 1110MT, Shandong, 3570MT, Shaanxi, 420MT, Zhejiang, 180MT), turnover rate, 20.97%; 38000MT is planned to purchase from Xinjiang and the actual turnover quantity is 400MT, turnover rate, 1.05%; Turnover quantity by backbone enterprises is 30520MT. 20600MT is planned to purchase from Xinjiang and the actual turnover quantity is 1000MT, turnover rate 4.85%.
 
By March, 18th, 6400660MT 2012 cotton is purchased accumulatively, among which, the listing turnover quantity is 4673710MT (inner land, 2133270MT, Xinjiang, 2540440MT); accumulative turnover quantity by backbone enterprises is 1726950MT. Top 3 purchase provinces are Hubei, Shandong and Hebei with quantity of 516700MT, 492900MT and 401200MT respectively and proportion of 24.39%, 23.27% and 18.94% respectively.
 
Large amounts of purchase caused tight supply of cotton, which shall promote stock out of state reserved cotton, which, meanwhile, shall stabilize purchasing price of seed cotton effectively.
 
On March 18th, it is planned to sell cotton 70175.05MT and the actual turnover quantity is 23830.79MT with turnover rate of 33.96% and average price of RMB18905/MT. The average grade is 3.68 and average length is 28.39mm; price for grade 328 cotton is basically stable at RMB19217/MT. 
 
By March 18th , 2.7269 million MT cotton is put in accumulatively with turnover quantity of 792,500MT, turnover rate of 29.06% and average price of RMB18756MT; price for grade 328 cotton is RMB19175/MT.
 
Turnover quantity has been 221,100MT since March with average turnover rate of 24.93%, average turnover price of RMB18868/MT, average grade of 3.67 and average length of 28.33mm; average price for grade 328 cotton is RMB19346/MT
 
 
Auction price shall play supports to steady of domestic cotton price. 

From “China Cotton Bi-Weekly Market Report”