Ministry Of Agriculture: Cotton Market Monitoring Information In May 2010

Recently, the Ministry of agriculture's agricultural products market monitoring and early warning expert group released in May 2010.

First, domestic cotton prices continue to rise.

In May, the average monthly price of grade 328 cotton was 16774 yuan / ton, an increase of 31.3% over the same period last year, and the growth rate was 3%.

Two, international

In May, the average price of Cotlook A (equivalent to the domestic 328 grade cotton) index was 89.75 cents / pound, up 44.9% from the same period last year, rising 1.9% compared with the same period, and hitting a record high again.

Three. At home and abroad

In May, the Cotlook A index was equivalent to RMB 13506 yuan per ton, 3268 yuan lower than domestic cotton price, and the spread widen 132 yuan from last month.

The average price of imported cotton price index FC Index M (M grade is equivalent to 328 grade cotton in China) is 90.80 cents per pound, 1% yuan is 15796 yuan per ton, 1% yuan lower than domestic price, and 16286 yuan per ton after sliding duty tax, 488 yuan lower than domestic cotton price.

Four, cotton imports were unchanged from last month, and textile and clothing exports grew substantially year-on-year.

According to customs statistics, China's cotton imports in April were 324 thousand tons, unchanged from last month, an increase of 122.5% over the same period last year.

As of April, China imported 1 million 720 thousand tons of cotton in 2009/10, an increase of 94.4% over the same period last year.

Five, global cotton production is expected to increase substantially in 2010/11.

According to May, the International Cotton Advisory Committee (ICAC) predicted that the global cotton planting area will rebound in May, the output will increase by 13% to 24 million 830 thousand tons, and the global trade volume will be 7 million 740 thousand tons, of which China's imports will increase by 22% to 2 million 600 thousand tons; the inventory consumption ratio outside China will be 51%, the same as this year; the average value of Cotlook A index is 85 cents / pound, which is 8 cents higher than the current year.