资讯 1 10 英文网 297 Monthly 589521 CNCotton Monthly Report (Oct) 2019-10-18 08:37:51 yangfang
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CNCotton Monthly Report (Oct)
2019-10-18

According to the latest investigation of national cotton market monitoring system, the low temperature and wind disaster weather in Xinjiang in the early stage has caused delay in picking new cotton, and the total output of domestic cotton in 2019/20 is expected to be 6.16 million tons, a year-on-year increase of 0.9%. At present, the volume of Xinjiang old cotton is relatively higher than that of previous years. Sales of reserve cotton were completed at the end of September, domestic cotton inventory is relatively sufficient, and seasonal supply pressure follows the arrival of new flowers from late October to November. Consumption continues the trend of the early stage. According to data from customs, China’s textile exports in August 2019 decreased by 2.61% year on year, clothes exports decreased by 6.38% year on year, and cotton yarn import volume decreased by 27.59% year on year. According to the data from National Bureau of Statistics, the growth rate of domestic retail sales of clothes, shoes, hats, knitwear and textiles slowed down compared with the same period last year in August 2019. Trade frictions between China and the United States have made initial progress, but there are still considerable uncertainties in the follow-up negotiations, supply and demand fundamentals under the cotton price rebound space is limited, so it needs to be cautious. 

 

According to the investigation on the purchase and sales progress of the monitoring system, at present, China’s volume of new cotton picked is 1.83 million tons, and cotton processed is 348,000 tons, cotton sold is 7,000 tons, the progress falls behind the level of the same period. The purchasing price of new cotton has seen a significant decline. At present, the average purchasing price of machine-harvested cotton in Northern Xinjiang is about 5 Yuan/ton, a year-on-year decrease of 13.8%.