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SunSirs: Guangxi’s Autumn Cocoon Continues to Come in, Raw Silk Prices Rise at A High Level
September 06 2019 17:13:33SunSirs(Linda)

Sunsirs: Sep 5

According to SunSirs, the market prices of domestic raw silk has continued to rise since September. Till Sep 5, the average price of 3A market has been 392,500RMB/t, 1.95% higher than that of the beginning of this month and 10.59% lower than that of the same period last year. The market of dried cocoon remains stable temporarily, the average price is 120,000RMB/t, 18.92% lower than that of the same period last year.

Affected by the market, the silkworm disease, the weather and so on at the first half of 2019, silkworm raisers’ positivity of silkworm rearing was attacked hard, leading to the sharp reduction of autumn cocoon’s market yield at the second half of this year. According to some cocoon stations in Liucheng Guangxi, this year’s production of autumn cocoon has decreased nearly 50%. Many stations in Hechi also reflect a 30-50% reduction in output.

Besides, autumn cocoon in the main producing areas of Guangxi continues to come in, the quality of the fresh cocoon on the market is generally good because of the nice weather conditions. The purchase is generally positive and the atmosphere is warm. The purchase price of Jinchengjiang fresh cocoon in Hechi is about 50-52RMB/kg, the price of the dried cocoon (for a ton of raw silk) is around 420,000RMB. The purchase price of fresh cocoon in Yizhou is about 50-54RMB/kg, the reelability percent is around 65%. The purchase price of fresh cocoon in Siba, Luocheng is about 48-52RMB/kg, the reelability percent is around 65%. The purchase price of fresh cocoon in Xincheng, Laibin is about 50RMB/kg, the reelability percent is around 55%-63%. The purchase price of fresh cocoon in Liucheng is about 50RMB/kg, the reelability percent is around 65%.

The direct purchase of domestic trade is warm, while the Indian market still remains clam. The Indian market price (up to Sep 4): the price of the hybrid cocoon was 230-440INR/kg, the price of the bivoltine cocoon was 400-750INR/kg, the price of the polyvoltine cocoon was 300-350INR/kg, the price of the bivoltine silk was 2,600-3,400INR/kg. The price of the hybrid cocoon was less than that of Sep 3, but the fluctuation range was not large. The prices of the bivoltine cocoon and the polyvoltine cocoon remained the same. The price of the bivoltine silk had no changes. (1INR = 0.099RMB)

The analyst of SunSirs believes that, the recent prices of raw silk have been rising at a high level because of the raw material shortage caused by many factors and the rising purchase cost of fresh cocoon. Regarding to the uncertainty of the initial situation of purchasing and to the uncertainty of the downstream demand, the cocoon market is expected to be mainly bullish

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.

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