Weekly Report: Cotton Price Declines Continually; Reserve Transaction Reduces

Last week (14th-18th July), cotton plants nationwide are in flowering period. The abundant sunlight in Northwest, Huabei and Huanghuai regions is good for cotton growth. The high temperature and drought in parts of Henan and Hebei provinces impeded cotton flowering and boll bearing. In middle and downstream of Yangtze region the rainstorm caused waterlog in some cotton fields.
The domestic lint price continued to decline and reserve transaction also reduced during the week. By 18th CC Index 3128B settled at 17,214 Yuan/ton, 59 Yuan down over the week. The reserve cotton released 57,000 tons, 5.4% less over the week, by 18th July, the total reserve selling had been 2,221,700 tons, 22.99% of the transaction percentage, including 2,089,700 tons of domestic cotton and 132,100 tons of import cotton.
As for import cotton price, FC Index settled at 83.65 cent/lb., 1.34 cent down over the week.