Home / Knowledge / News / Textiles / Cotton procurement plan helps arrest fall in prices

Cotton procurement plan helps arrest fall in prices

26
Dec '08
According to the survey of National Cotton Market Monitoring System, by the end of November, sales rate of farmers for cotton stood at 63.3 percent, a drop of 11.7 percentage point's year-on-year. New cotton processing rate of ginning mills was 56.4 percent, down 16.8 percent year-on-year while average sales rate was 15.5 percent, down 17.8 percent year-on-year.

As of end of November 2008, under the cotton procurement plan, the state acquired 658,000 tons of cotton, representing 54 percent of the announced plan of 1,220,000 tons, of which Xinjiang cotton was 537,000 tons and inland cotton 121,000 tons.

In the first half of November, domestic cotton prices continued to decline. In the second half of the month, the effects of procurement gradually began to show, market confidence was restored, domestic cotton market gradually picked up and purchase and sale prices rebounded from the earlier declining trend.

In early November, purchase price for domestic seed cotton grade 3 was 4.96 Yuan per kg which fell to 4.6 Yuan per kg on November 18. Since then the fall has been arrested and it has now stabilized at 4.63 Yuan per kg by end of November.

In early November, landed mill price of standard cotton grade 3 for inland cotton was 11,833 Yuan per ton which fell to 10,658 Yuan per ton on November 22. The declining trend has since stopped and now prices have climbed back to 10,677 Yuan per ton by the end of November.

Zhengzhou cotton futures and electronic trading price at the National Cotton Exchange also followed the same pattern of rebounding from earlier declining trend. By the end of November, January contract prices of cotton futures and online matching level were 11250 Yuan and 10827 Yuan per ton, respectively, up 940 Yuan and 405 Yuan per ton from the lowest points in mid-November.

Fibre2fashion News Desk - China


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 29th Oct 2020

Bangladesh restored 40% of cancelled RMG orders: minister

Bangladesh foreign minister AK Abdul Momen recently said the...

Pic: Shutterstock

Textiles | On 29th Oct 2020

Uzbek trade body, Indonesian textile firm mull cooperation

Representatives of the Uzbekistan Textile and Garment Industry...

Pic: Shutterstock

Textiles | On 29th Oct 2020

PRC unofficially boycotts Australian cotton, imports halt

All cotton exports by Australia to China have reportedly stopped...

Interviews View All

Luke Otten, Wigwam Mills Inc

Luke Otten
Wigwam Mills Inc

Wigwam aims to recycle discarded yarn that doesn’t make it through the...

Mukesh Agarwal & Rajesh Agarwal, Madhuram Fincap Pvt Ltd

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Kamlesh Vaghela, RK Textiles

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Abhishek Dhanuka,

Abhishek Dhanuka

Vyom International Pvt Ltd, established in 2002, is one of Surat's leading ...

Kamal Kulshreshth,

Kamal Kulshreshth

Colorjet is among the fastest-growing wide format digital inkjet print...

Wesly Clements,

Wesly Clements

US-based Baldwin Technology Company is a global manufacturer and supplier...

Daniel Kaye, RocketLife

Daniel Kaye
RocketLife

<div>RocketLife, an award-winning developer of breakthrough visual...

Wolfgang Plasser, Lenzing AG

Wolfgang Plasser
Lenzing AG

The Lenzing Group is an international company headquartered in Austria...

Matthew Kolmes, Supreme Corporation

Matthew Kolmes
Supreme Corporation

Supreme Corporation manufactures innovative specialty yarns and safety...

Rupa Sood and Sharan Apparao, Nayaab

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Tony Ward, Tony Ward

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Aprajita Toor, Aprajita Toor

Aprajita Toor
Aprajita Toor

The creations by Aprajita Toor were born out of a deep desire to create...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


October 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search