China Cotton Association published its Nov Cotton Crop Report at the end of Dec. The report includes:
Cotton crop condition
Weather was favorable in most cotton belts and picking almost completed. Output was estimated slightly higher at 6650KT, up 200KT compared with the Oct estimate, down 2.1% from the same period last year.
Cotton sales
By the end of Nov, about 70% of cotton has been sold by growers, about 12% slower than the same period last year. The average price was at 10.93yuan/kg, down 2.6% from Oct, up 52% from the same period last year. With the price starting dipping from mid Nov, the growers were holding tighter to their cargoes.
Cotton import
China imported 126KT of cotton in Nov 2010, up 31.3% from Oct, and up 11.8% from the same period last year.
Yarn and textile market
With great fluctuations in cotton prices, textile mills started to limit production or shift to other raw materials. In Nov, cotton yarn output grew slower while the proportion of chemical fiber yarns and blended yarns were raised.
According to National Bureau of Statistics, China produced about 2467KT of yarn in Nov, up 2.6% from Oct and 9.8% from the same period last year. Cotton yarn output increased, while the growth rate in Sep and Oct was 5.6% and 1% respectively.
Textile and apparel export value reached 19 billon US dollar, up 6.8% from Oct, ending three months of drops.
source:CCFGroup.com
