Weekly Report: Domestic and Foreign Cotton Prices Rise, Textile Exports Increase

1. The cotton areas in Xinjiang and the Yangtze River Basin have entered the bud stage

Last week (June 1-5), except in South China, the rainy weather was not good for cotton growth.  Most of the country's cotton is in the third to the fifth true leaf stage, Xinjiang and part of the Yangtze River valley is in the bud stage. It is expected that in the middle and late June, most of the temperature and precipitation in The cotton region of Xinjiang are close to the whole year. In the cotton region of the Yellow River Basin, the temperature is high and the precipitation is low. Precipitation in the cotton region of the Yangtze River Basin is excessive, especially in eastern Hubei, central and southern Anhui, northern Jiangxi, central and northern Hunan and other places is excessive by 2-50%. Waterlogging disaster may occur in some cotton areas, affecting cotton growth.

2. Both domestic and foreign prices have risen

Last week, the domestic cotton prices maintained a steady rise. Cotton prices rose as crude oil prices rose and locust plague hit the international market. The weekly average price of China Cotton Price Index CC Index(3128B) was 11,867 Yuan/ton, up 32 Yuan from the previous month.  Zhengzhou Commodity Exchange main cotton contract CF009 week average price 11,747 Yuan/ton, up 163 Yuan month on month.

3. Apparel exports declined, textile exports increased

On June 7, the General Administration of Customs released data showing that in the first five months of this year, my country's clothing exports declined and textile exports increased. The export of textiles including masks was 406.66 billion Yuan, an increase of 25.5%; clothing was 267.81 billion Yuan, a decrease of 20.3%.