Weekly Report: Textile Export Continues to Increase; Domestic Cotton Price has Stable Performance

On 9th June, the General Administration of Customs published export and import trade review of the first five months this year, which showed encouraging increase spurred by the general global economy and domestic moderate stimulation. Among export goods, textile and apparel export continued the increase pace and for the month of May, the export value of which was 24.97 billion USD, 8.7% up Y/Y, including 10.46 billion USD of textile product up by 7.7%, and apparel export of 14.51 billion USD, up by 9.4%. The cumulative export value of textile and apparel during the first five months is 106.84 billion USD, up by 3.6% over the corresponding time last year, including 44.04 billion USD of textile export, up by 5.1% and 62.8 billion USD of apparel export, up by 2.7%.
During the early June, cotton plants in Yellow River region and most of Yangtze region come with the third to the fifth true leaf stage, and in Xinjiang it comes to the fifth true leaf to squaring stage. The fine weather in most cotton regions is conducive for cotton growth, except the temperature that 2-4 ?? lower than normal in middle and northern Xinjiang is discouraging for cotton growth.
Presently textile industry is during its off season, domestic lint spot trade is rare and the price has little change, by weekend, CC Index 3128B settled at 17,389 Yuan per ton, 3 Yuan down over the week. Reserve cotton release reduced in volume, by 6th June the total sales of reserve cotton was 1.84 million ton, 27.4% of transaction percentage against auction offer, with 1.727 million ton of domestic cotton and 113,000 ton of import cotton.
As for import cotton  price, FC Index settled at 91.67 cent/lb., 0.68 cent up over the week.