Jacquard Knitted Fabric,Checks Jacquard Fabric,Jacquard Mini Pattern Fabric,Small Pores Fabric Shaoxing Weihui International Trade Co.,Ltd. , https://www.weihuifabric.com
Not only has the US cotton planting area increased significantly, but the cotton planting area in India, the main producing country, has also increased significantly. According to the latest statistics from the Indian Ministry of Agriculture, as of June 15, the area planted with cotton in India has reached 25 million mu, compared with 18.37 million mu in the same period last year. According to data from the Cotton Association of India, the area of ​​cotton planted in India increased by 10% year-on-year to 169 million mu. This year's cotton yield is better than other crops to encourage cotton farmers to expand. If the monsoon rains are ideal, India's cotton production this year is expected to reach 637.5-646 million tons, the highest in three years, much higher than the 5.8 million tons in 2016. The main imports of cotton in China come from the United States, India, Australia and Brazil. In the past two years, the national reserve cotton auction supply market, the import volume has decreased, but also reached about 1 million tons, cotton imports mainly from the United States and India. The large increase in cotton planting area in India and the United States may have a big impact on China's cotton market after the fourth quarter. In the third quarter, China's cotton market still relies mainly on the national reserve cotton auction supply market. The average price of cotton auctions this year is between RMB 145,000 and RMB 15500 per ton. In the short term, it is difficult for domestic cotton stocks to fall sharply. Pay attention to the growth of cotton at home and abroad.
The cotton area in the main producing country has increased greatly.
Since mid-June, US cotton futures have fallen sharply. The main December contract fell from 72.52 cents on June 9 to 67.18 cents on June 29, a drop of 7.36%. The reason for the sharp decline in US cotton futures is that the cotton planting area in the new season has increased significantly. The US Department of Agriculture will adjust the cotton planting area in the new season on Friday night (30th). The market expects the US cotton planting area to reach 12.278 million acres, higher than 3 The estimated 12.333 million acres in the month is significantly higher than the final value of 10.075 million acres last year.