Monthly Report: Textile Demand is Strong and Cotton Prices have Risen Sharply (Jul. 2021)

Source:China Cotton Association  Date: 24/August/2021

Monthly Report: Textile Demand is Strong and Cotton Prices have Risen Sharply (Jul. 2021)

In July, by implemented strong epidemic prevention and control measures, production and operation activities were further restored, textile production and sales continued to improve steadily, enterprises had sufficient orders, operating rates remained at a high level, sales of finished products were smooth, and yarn profits were high. Rare in the past 10 years, cotton demand continues to be strong, showing no signs of slowing down. From the supply side, according to the China Cotton Association, the total production in 2021 is expected to be about 5,763,100 tons, a year-on-year decrease of 2.71%, in July, about 191,100 tons of cotton from the State Reserve, with a transaction rate of 100%. Cotton prices at home and abroad have risen sharply, domestic futures and spot prices have reached the highest point since 2015, and international cotton prices have hit a new high since 2013. The CCA predicts that cotton consumption in 2020/21 will be 8.426 million tons, an increase of 11.33% year-on-year, an increase of 326,000 tons from the previous period, the import volume will be 2.8 million tons, an increase of 75% year-on-year, and a decrease of 200,000 tons from the previous period. The export volume was 28,500 tons, an increase of 11.33% year-on-year, and a decrease of 15,000 tons from the previous period, the ending stock was adjusted to 8,174,400 tons, an increase of 3.41% year-on-year, and a decrease of 498,500 tons from the previous period, production estimated of 5.92 million tons, the same year-on-year Slightly increased.

China Cotton Supply and Demand Balance Sheet (Sep. 2021)      Million tons

Year

Begining Stock

Production

Import

Consumption

Export

Ending Stock

2020/21

790.52

592.37

280

842.6

2.85

817.44

2019/20

807.51

590.57

160

765

2.56

790.52

2018/19

802.6

611

205

807

4.1

807.51

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