Cotton production increased by 0.4%
National cotton production data released by the National Bureau of Statistics show that in 2020, the national cotton production will be 5.91 million tons, an increase of 21,000 tons or 0.4% over the previous year.
The national cotton sown area was 3169.9 thousand hectares, a decrease of 169.4 thousand hectares or 5.1% from the previous year.
The yield per unit area was 1864.5 kg/ha, an increase of 100.9 kg/ha or 5.7% over the previous year.
Cotton prices record lows in nearly 10 years
According to SunSirs data monitoring, as of April 3, 2020, the national cotton spot market average price was 11091 yuan/ton, which was the lowest cotton price recorded by SunSirs since 2010. This is down 5.16% from the low of March 29, 2016.
The target price of Xinjiang cotton in 2020 is 18,600 yuan/ton (3.26)
On March 26, the National Development and Reform Commission announced that in order to implement the spirit of the 2020 Central Document No. 1, approved by the State Council, the cotton target price policy will be improved in Xinjiang from 2020, with a target price of 18,600 yuan/ton (evaluated every three years).
In 2020, the lint spot range is 3890 yuan/ton
According to SunSirs data monitoring, the domestic spot price of lint in 2020 will be 3890 yuan/ton, an increase of 776 yuan/ton year-on-year. The highest point during the year was 14891 yuan/ton (12.31) and the lowest point was 11091 yuan/ton (4.3).
Cotton imports (January-November) increased by 6.36% year-on-year
From January to November 2020, my country imported a total of 1.8035 million tons of cotton, a year-on-year increase of 6.36%.
Cotton yarn (January-November) exports decreased by 27.76% year-on-year
From January to November 2020, my country imported a total of 1,722,500 tons of cotton yarn, a year-on-year decrease of 3.36%; cumulative exports of 250,400 tons, a year-on-year decrease of 27.76%.
Cotton cloth import and export double down (January-November)
From January to November 2020, my country imported a total of 177 million meters of cotton cloth, a year-on-year decrease of 31.01%; cumulative exports of 6.149 billion meters, a year-on-year decrease of 14.99%.
The average transaction price of cotton reserves in 2019 is 11,789 yuan/ton (7.1-9.30)
In 2020, the average transaction price of central reserve cotton rounds is 11,789 yuan/ton, which is equivalent to the standard (3128B) price of 13,099 yuan/ton, the highest transaction price is 13,030 yuan/ton, and the lowest transaction price is 10440 yuan/ton;
A total of 504,000 tons of cotton were listed for sale, of which 283,000 tons of Xinjiang cotton and 221,000 tons of real estate cotton; a cumulative transaction of 503,000 tons, a transaction rate of 99.9%.
Plan to purchase and store 500,000 tons of Xinjiang cotton (10.19)
On October 19, the State Bureau of Grain and Material Reserves issued an announcement that some Xinjiang cotton will be transferred. The total volume of this round will be 500,000 tons, and the daily bidding will be about 7,000 tons. The time is from December 1, 2020 to March 31, 2021, national legal days.
U.S. unilaterally announced restrictions on Xinjiang cotton
On December 2, the U.S. Department of Land Security’s Customs and Border Protection unilaterally announced the issuance of a withholding order for cotton and cotton products produced by the Xinjiang Production and Construction Corps and its subsidiaries, prohibiting related products from entering the United States. The spokesperson of the Ministry of Commerce responded that China strongly urges the United States to stop wrongdoing and resolutely safeguard the legitimate rights and interests of Chinese companies.
2019/2020 global cotton industry subsidies are expected to total US$8 billion
The 2020 Global Cotton Subsidy Report issued by the International Cotton Advisory Committee (ICAC) stated that in 2019/20, the global cotton industry subsidies (including direct production subsidies, border protection, crop insurance subsidies, cost expenditures and transportation subsidies, and minimum support prices) The total amount is expected to be US$8 billion, an increase of 39% from the US$5.7 billion in 2018/19. The average subsidy amount is 20 cents per pound, higher than the 15 cents pound in 2018/19.
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