Ningbo Port: High Price Of Imported Raw Cotton

By the end of October,

Ningbo customs officials believe that the high price of imported cotton is mainly due to the recent increase in the supply of imported cotton.

On the one hand, China's cotton imports from the United States will all be put into place by the end of November this year.

On the other hand, India, the world's second largest cotton producer and exporter, has a bumper harvest this year. Cotton production in 2010 to 2011 is expected to set a new record of 35 million bags (170 kg / pack).

At present, cotton exporters in India are lobbying the government to expand the export quota of cotton.

Cotton prices have gone all the way since the beginning of this year, especially in recent months.

The reporter learned from the China cotton trading network that the cotton price in the domestic market was 18 thousand yuan per ton in August, which was close to 20 thousand yuan per ton at the end of September and reached 30 thousand yuan per ton by the end of October.

In November 11th, the first class cotton originated from Jiaxing sea salt was quoted at 31200 yuan per ton.

Cotton prices continued to soar, resulting in a slowdown in the export sales of our textile enterprises.

Ningbo customs statistics show that between January and September this year, the city's textile and apparel products totaled 7 billion 510 million US dollars, an increase of 18.3% over the same period last year, an increase of 19.4 percentage points below the total export volume.

As for the trend of cotton prices in the future market, the leaders of China Cotton Association predict that the trend of domestic cotton prices going up in late November to early December is expected to be effectively curbed or even dropped considerably. Not long ago, seven ministries and commissions of the national development and Reform Commission issued urgent notices and put forward six measures to maintain the current cotton market order. At present, these measures have begun to work.