Monthly Report: New Cotton Purchase Prices Rise, Textile Production is Stable and Improving (Sep. 2020)

Source:China Cotton Association  Date: 22/October/2020

According to the China Cotton Association's forecast, the cotton production in 2020/21 will be 5.93 million tons, the import will be 1.98 million tons, and the consumption will be 7.99 million tons. In September, the national reserve cotton round out was finished, with a total turnover of 503,000 tons, with a turnover rate of 99.87%, well fulfilling the expected task.

 

On September 30, the round out of the 2020 cotton reserve lasted for 3 months starting from July 1, with a total listing of 504,000 tons and a total turnover of 503,000 tons, with a turnover rate of 99.87%, including 283,000 tons in Xinjiang, and 220,000 tons by other areas. The turnover of textile enterprises was 234,000 tons, and the turnover of non-textile enterprises was 269,000 tons.

 

In September, textile enterprises increased demand for cotton, commercial inventory continued to decline. At the end of the month, China's total commercial cotton inventory was about 2.093 million tons, down 14.57% month-on-month and 5.01% year-on-year.

 

The domestic economy continued to recover steadily, and the effects of stabilizing foreign trade policies continued to appear. The export performance in the first three quarters exceeded market expectations. Textiles grew by 33.7% driven by anti-epidemic products, while apparel still fell by 10.3%. Customs data show that in September, China’s textile and apparel exports amounted to US$28.38 billion, an increase of 15.73% year-on-year, of which textile yarn, fabrics and products exports were US$13.150 billion, an increase of 34.69%; garment exports were US$15.23 billion, an increase of 3.19%. In the first three quarters, the cumulative export of textiles and apparel was US$215.78 billion, a year-on-year increase of 9.36%, of which exports of textile yarns, fabrics and products were US$117.95 billion, a year-on-year increase of 33.70%, and exports of apparel and apparel accessories were US$97.83 billion, a year-on-year decrease of 10.30%.


China Cotton Supply and Demand Balance Sheet (Oct. 2020)      Million tons

Year

Begining Stock

Production

Import

Consumption

Export

Ending Stock

2020/21

790.08

593.2

198

799

3

779.28

2019/20

807.51

590.57

160

765

3

790.08

2018/19

802.6

611

205

807

4.1

807.51


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