In Sep, new crop year has kicked off in China. By Sep 7, seed cotton has started to be harvested in most cotton growing areas of inland, and some new cotton has been transacted. In Turpan of Xinjiang, new seed cotton also starts to be picked and transacted. Modest quantity of new cotton has arrived on the market in Marabishi, Xinjiang, and seed cotton prices are obviously higher than last year.
Cotton planting and harvests in inland:
In most cotton growing areas of inland, seed cotton has arrived on the market successively in Hebei, Shandong, Tianjin, Anhui, Henan and Hubei, and prices are much higher than last year, but different based on quality and regions.
Compared with the prices in 2017, seed cotton prices in inland are higher about 0.60yuan/kg this year in general, which is mainly owing to higher planting costs this year.
The ginning yield also differs obviously in different regions. The highest ginning yield is in Tianjin, and the proportion of seed cotton with ginning yield of 40% and above is relatively high, and prices are also high. Ginning yield in Hubei is relatively low, below 37%. Shandong province sees large differences. Gansu has no new cotton on the market, but the prices can refer to the prices of Xinjiang cotton.
Currently, profits for ginning factories are limited. Due to thin profits and even losses, some ginners choose to stand on the sidelines first. Besides, some mills turn to purchase reserved cotton instead of new cotton due to high prices.
CHINA: High seed cotton prices and ginning costs in early 2018/19
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