Interviews
Cotton import volume rises in June
06 Aug '07
3 min read
By the end of June 2007, the sowing of cotton is end; most of cotton growing situation like the average year. According to the last statistics of China Cotton Association (CCA), the sown area this year will be 81.64 million mu, equal to last year.
With the reduction of the domestic resources, the cotton price goes up by large margins. In June, the spinning amount and fabrics clothes export keep fast growth; and the cotton import volume rises again to some extent.
The Supply:
1) the cotton price goes up sharply because of domestic resources less and less. The current marketing year will be end after two months, domestic cotton resource is gradually exhausted, and cotton price rises by large margins.
At the same time, the price of Electronic market and Zhengzhou futures exchange also goes up. To maintain domestic cotton price stability, the government decide to auction some old crop cotton in July 16, 2007, the increasing step of domestic cotton price slows down to some extent subsequently.
In June, the domestic cotton price keeps increasing and comes back to the level of initial stages of current marketing year.
The minimum value of China Cotton Index (CCIndex) of Type 328 grades is 12948 yuan per ton in June 1, the supreme value 13026 yuan per ton in June 29 and the average price 12971 yuan per ton that goes up 405 yuan per ton or 3.13% from May, decrease by 675 yuan or 4.8% compared with the same period of last year.
With the reduction of the domestic resources, the cotton price goes up by large margins. In June, the spinning amount and fabrics clothes export keep fast growth; and the cotton import volume rises again to some extent.
The Supply:
1) the cotton price goes up sharply because of domestic resources less and less. The current marketing year will be end after two months, domestic cotton resource is gradually exhausted, and cotton price rises by large margins.
At the same time, the price of Electronic market and Zhengzhou futures exchange also goes up. To maintain domestic cotton price stability, the government decide to auction some old crop cotton in July 16, 2007, the increasing step of domestic cotton price slows down to some extent subsequently.
In June, the domestic cotton price keeps increasing and comes back to the level of initial stages of current marketing year.
The minimum value of China Cotton Index (CCIndex) of Type 328 grades is 12948 yuan per ton in June 1, the supreme value 13026 yuan per ton in June 29 and the average price 12971 yuan per ton that goes up 405 yuan per ton or 3.13% from May, decrease by 675 yuan or 4.8% compared with the same period of last year.
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