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Cotton prices in Xinjiang on the upside

02
Nov '09
According to the survey by Xinjiang Cotton Association, purchase price of seed cotton in Xinjiang market was generally steady at 5.8-6.2 Yuan / kg in the early stages of the harvesting period.

Cotton prices have continued to rise since entering October. As of October 20, average purchase price of seed cotton in Xinjiang was 6.4 Yuan / kg, over 1 Yuan per kg higher, when compared with a year earlier.

As cotton price is growing at a faster pace, some farmers are holding on to their stocks on expectations of a getting a better price in the coming months, so they are reluctant to sell harvested cotton.

As of October 20, the autonomous region of Xinjiang acquired 1.07 million tons of lint in total, an increase of 7.72 percent year on year.

Fibre2fashion News Desk - India


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