Weekly Report: The Weather is Favorable for Cotton Planting, Home and Abroad Cotton Price Fluctuates Slightly

1. The Weather is Favorable for Cotton Planting

Around the Guyu solar terms, cotton in Xinjiang, Gansu, Henan, Hunan and other areas has entered the seeding and seedling stage. Most of the agricultural areas have good weather conditions, which is generally conducive to cotton planting. The northwestern region, most of Northern China, and southern Huanghuai have good weekly heat conditions, normal sunshine, good soil moisture, and light, warm, and water conditions are favorable for cotton spring sowing; most of the time in Jianghuai, Jianghan, and Jiangnan is close to the same period of the year, there is no large-scale strong convective weather, which is conducive to sowing and raising cotton seedlings.

2.Home and Abroad Cotton Price Fluctuates Slightly

Last week, the National Bureau of Statistics announced that GDP in the first quarter fell by 6.8% year-on-year. The situation of domestic epidemic prevention and control continued to improve, overseas epidemic conditions continued, textile orders shrank, demand for cotton slumped, and domestic and foreign cotton prices fluctuated slightly. The weekly average price of China Cotton Price Index CC Index (3128B) was 11,477 Yuan / ton, up 139 Yuan month-on-month; the weekly average price of the Cotlook A index was 63.23 cents / lb, down 0.07 cent month-on-month, and 1% tariff reduction was RMB 10,911 Per ton, 486 Yuan lower than the China Cotton Price Index (3128B), 13222 Yuan per ton under sliding tax, 1745 Yuan higher than the China Cotton Price Index; the weekly average price of the imported cotton price index FC Index M is 64.57 cents Pounds, a decrease of 0.46 cents from the previous month; the average weekly price of CF009, the main contract of cotton on the Zhengzhou Commodity Exchange, was 11,428 Yuan / ton, down 7 Yuan from the previous month; the weekly average contract price of ICE cotton futures was 52.72 cents / lb, down 0.82 cent from the previous month.

3. China Cotton Association Held the Second Session of the Fourth Council and the National Cotton Situation Analysis Conference

On April 17, China Cotton Association held the second session of the Fourth Council and the National Cotton Situation Analysis Conference. This meeting was held in video format. The governing unit of China Cotton Association and relevant departments and industry organizations participated in the meeting. The meeting reviewed the production and sales of cotton and textile industry in 2019, the rotation of reserve cotton, textile production and other situations,  analyzed the current cotton situation and put forward relevant policy recommendations; The countermeasures and suggestions were proposed for the impact of cotton and textile supply and demand.