According to the latest report by SDRC price monitoring center, the overall domestic cotton price is expected to register steady hike in 2007.
Relevant data showed that, in 2006, the average cotton purchase price was 627.07 yuan per 50 kilograms, up 9.54 percent from the previous year, but the average purchase price of wholesale procuring declined. In September-December, the average new cotton purchase price decreased by 9.18 percent on a year-on-year basis.
Annual spot cotton prices showed a declining trend. Cotton price was 707.39 yuan per 50 kilograms in January, but declined to 626.47 yuan in December, down 12.92 percent, but the annual average price rose 4.00 percent over the previous year.
Having summarized the international and domestic cotton supply-demand situation and global price trend, the report concludes that, in 2007, China's cotton price, will steadily climb higher. Meanwhile, possibility of drastic fluctuations will be less.
Fibre2fashion, News Desk - China
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