According to local resources, nearly half of the 2005 Xinjiang crop remained unsold.
Private estimate shows that by the end of March, total procured Xinjiang crop is reported at 1.5 mil tons, while less than 900,000 tons have been sold.
A moderate decline in doemstic physical price has pressed Xinjiang crop below 14000 yuan per ton, which is below the procurement cost by most cotton enterprises. This, coupled with a wait-and-see emotion, Xinjiang crop has very limited demand.
Xinjiang cotton production totaled 1.89 mil tons, cumulative procurement is estimated to have reached 1.8 mil.
