Interviews
Fabrics clothes export drops in October
27 Nov '08
5 min read
The China Cotton Index of October (CC Index328) drops by 1077 yuan / ton totally in the whole month to under the 12000 yuan per ton, a new low record in the past four years. The average price in October 12322 yuan / ton, drop by 855 yuan / ton from last month. The cotton futures price in Zhengzhou and CNCE continued dropping by a wide margin in the same period. Because domestic demand slippery and the import cotton price after tax relatively high, China only import cotton 96,000 tons in October, down by 26% and 30% from last month and last year respectively.
To the cotton price dropping continuously, in order to protect the cotton grower's interests and stability domestic market, the country starts the control measure promptly, on the basis of reserving 220,000 tons Xinjiang cotton, continue accepting 1 million tons at 12600 yuan / ton, and include some inland cotton. Reserving take some effect to stop cotton price falling by some means, but can not control the situation, the reserving price deviate from market price tendency, the market situation is very critical.
Face the situation, cotton, textile association at all levels give advices one after another, propose taking the comprehensive policies and measures to start the textile industry, devoting more efforts to reserve, protect interests of cotton grower. Entering November, the country held the meeting continuously, confirmed a series of measures to spur the domestic demand, among them for textile industry including further raising export rebate tax rate, strengthening the fund supporting, and promoting industry upgrading. On the cotton, the related departments say that will continue devoting more efforts to reserving.
It is estimated with the measures implementation, the situation of cotton price falling is expected to relieve.
To the cotton price dropping continuously, in order to protect the cotton grower's interests and stability domestic market, the country starts the control measure promptly, on the basis of reserving 220,000 tons Xinjiang cotton, continue accepting 1 million tons at 12600 yuan / ton, and include some inland cotton. Reserving take some effect to stop cotton price falling by some means, but can not control the situation, the reserving price deviate from market price tendency, the market situation is very critical.
Face the situation, cotton, textile association at all levels give advices one after another, propose taking the comprehensive policies and measures to start the textile industry, devoting more efforts to reserve, protect interests of cotton grower. Entering November, the country held the meeting continuously, confirmed a series of measures to spur the domestic demand, among them for textile industry including further raising export rebate tax rate, strengthening the fund supporting, and promoting industry upgrading. On the cotton, the related departments say that will continue devoting more efforts to reserving.
It is estimated with the measures implementation, the situation of cotton price falling is expected to relieve.
China Cotton Association
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