Issuance Of Quotas For Import And Export Quotas
On the first trading day of 2012, Zheng cotton did not pay attention to the strong limit of ICE cotton. After a slight opening, it fell back. The main 1205 contract was oscillating near 20820 yuan / ton.
At home
Imported
The issuance of cotton tariff quotas is the main reason for the different performance of cotton futures.
Quota management of cotton imports in China
The quota management system of cotton imports in China is divided into two categories: one is the tariff quota, the import tariff rate is 1%, and the annual import volume is 894 thousand tons, which is issued at the beginning of the annual Gregorian calendar (that is, after the new year's day). The validity period of the quota can be extended up to the end of February next year. The other is the tariff quota, and the tariff quota is implemented by the sliding tariff system. According to the 2012 sliding tax formula announced by the Ministry of finance, the import tax rate of cotton imports with a sliding quota is a little higher than 1%, and the cotton price below 100 cents applies 4% to 40% of the sliding tax rate. The lower the import cotton price is, the higher the sliding tax rate is.
The amount of sliding tax payment is determined according to market conditions. The effective period of use of the quasi tax quota is expired at the end of that year.
The quota of imported cotton is distributed to enterprises free of charge.
enterprise
The amount of distribution has a certain relationship with the size of enterprises and the quantity of cotton imports each year.
According to the regulations of the state, import quota of cotton is not allowed to buy and sell. However, driven by market demand, there is still an invisible market in the quota of imported cotton. The price of imported cotton reflects the price difference between inside and outside cotton market and the market demand of outer cotton comprehensively.
At the end of 2011, as domestic and foreign cotton price difference was close to 3000 yuan / ton, the domestic cotton market oscillated upward under the support of purchasing and storage. The huge market price difference and the anticipation of the cotton futures market led to a "one vote hard" demand for imported cotton quotas and a sharp rise in prices, of which 1% of the tariff quota market price was once more than 2000 yuan / ton.
The continuous rise in the quotas of imported cotton quotas has filled the huge gap between the inside and outside markets, and also made it difficult for the internal and external arbitrage.
2012 tariff quotas for imported cotton will be issued.
The quota and the usage rules of imported cotton quotas have resulted in the issuance of quotas for each year, creating an opportunity for the reduction of cotton prices between inside and outside markets, creating opportunities for the internal and external arbitrage.
After the new year's day, the tariff quotas for imported cotton will be distributed to some enterprises in 2012. Low price imported cotton is expected to enter the domestic market in batches.
cotton
The price has certain negative effects, which is not difficult to explain why cotton has been rising for 7 consecutive days, while domestic cotton has continued to oscillate.
From a basic point of view, the phasing support of the purchase and storage policy for cotton market is conducive to stabilizing cotton prices, and has made time for the adjustment of the cotton textile industry chain. However, the larger price difference between inside and outside will weaken the competitive advantages of the downstream textile enterprises, which may prompt the downstream enterprises to increase the import intensity of low price cotton and cotton yarn.
The quota and rhythm of imported cotton quotas have become the key factors affecting cotton prices in a certain period of time.
If the quasi tax quotas are issued earlier and faster, Zheng cotton will face greater pressure from the spot market, whereas on the contrary, the cotton price will continue to oscillate.
- Related reading
Printing And Dyeing Industry: A Light Boat Is Still Passing Over The Heavy Mountains And The Haze Will Still Be Locked Up.
|There Are Four Obstacles In The Process Of Internationalization Of Chinese Clothing Brands.
|- market research | Study: Who Is Still Reading These Words On Fashion Week? Critical Reviews Rush Out Of Circles.
- Today's quotation | Xinjiang Cottonseed Prices Fell Sharply 0.15-0.2 Yuan / Kg
- Today's quotation | Zheng Cotton Prices Tend To Increase, Hedging Space Opens
- Market trend | PTA Fundamentals Will Continue To Weaken In The Late Stage To Seize The Opportunity To Meet Each Other.
- Industry dialysis | Self Reliance: Why Does Zheng Cotton Futures Rebound?
- Instant news | Slim Negotiations: A New Round Of Sino US Economic And Trade Consultations Opens In Washington
- Expo News | 2019 China Textile Clothing (Philippines) Brand Exhibition Attracts Philippine Businessmen
- Industry dialysis | How Can Cotton Textile Enterprises Find New Labels In Adversity? 2019 China Cotton Textile Conference Explores Innovation, Change And Development
- Industry perspective | To Clarify The Path And Set Up A Model: The 2019 China Textile Industry Intelligent Manufacturing Conference Delivered Real Material.
- quotations analysis | The September Overall Prosperity Index: Output Growth, Circulation And Contraction, And The Prosperity Index Is Smaller Than The Index.
- The Fourth National Financial Work Conference Will Discuss A New Round Of Financial Reform.
- The Capital Market Has Been Cut Off By &Nbsp; Orders Will Continue To Be Suspended.
- Ten Major News Events Affecting Department Stores In 2011
- Erdos Has Gradually Established A Global Production And Sales Network.
- Looking At The Independent Brand Shoe Companies Under The Financial Crisis
- China'S Children'S Shoes Brand Enterprises Break Through The Market And Win The Market
- Children'S Shoes Enterprises Are Suddenly Emerging In The Competition Of Adult Shoes.
- Trade Protectionism Is Regurgying This Year, The Situation Of Trade Friction Is Even More Serious.
- Dialysis On Nine Major Difficulties Affecting The Development Of Small And Micro Enterprises
- The Order Transfer Of Spinning And Weaving Industry Should Not Be &Nbsp; &Nbsp; &Nbsp; Medium And High End Small Batch Dealing With Export Weak Market.