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Seed cotton fetches record prices
22
Oct '10
The purchase price of seed cotton announced in Xinjiang area is 6.54 Yuan / kg this year, an increase of 1.14 Yuan year on year.

But the purchase price has been steadily rising since September, when new cotton started to arrive in the market. Purchase price in Xinjiang has rapidly increased to over 10 Yuan / kg from the initial purchase price of 8.50 Yuan / kg and once even touched 11 Yuan / kg.

The average purchase price in Xinjiang fell to about 10.30 Yuan / kg during the National Day period, as purchase price of domestic seed cotton followed the downward trend of international cotton prices.

Purchase price of seed cotton rebounded after the National Day period, due to low temperature and rainy weather; with recent prices shows a rising trend.

As of October 14, acquisition price in Xinjiang reached 11.6 Yuan / kg, of which the average price in Northern Xinjiang was 11.4 Yuan / kg and in South Xinjiang it stood at 11.8 Yuan / kg, to set the highest purchase price in a decade.

Fibre2fashion News Desk - China


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