Weekly Report: Spring Sowing Completed; Cotton Acreage Gathered in Cotton Suitable Areas

Cotton spring sowing has completed nationwide. Most plants growth is during seeding emergence to the fifth true leaf period. The low temperature and the gale and sand storm in some Xinjiang cotton areas later last week caused damage to cotton plants. In Huabei, Huanghuai region, the temperature is relatively high with abundant sunlight and rain, easing earlier droughts and good for cotton growth. The weather and earth conditions in Jianghuai and Jianghan regions are also good for cotton seedling transplant.
The cotton acreage in inland China moves to the exclusively cotton suitable fields such as saline and alkaline soil, while is heavily taken by grain where the land condition permits. In Xinjiang, cotton growers pay close attention to the target price implementation; and inland cotton growers also expect subsidy from government. 
Currently due to declining cotton price and the shortage of liquidity widespread in mills, they try hard to reduce raw material stock. Last week CC Index 3128B settled at 17,402 Yuan per ton, 25 Yuan down over the week. By 23th May, reserve cotton had been sold of 1.70 million ton, and the transaction percentage is 29.4%, including 1.60 million ton of domestic cotton and 105,000 ton of import cotton.
As for import cotton price, by weekend, FC Index settled at 93 cent/lb., 2.15 cent down over the week.