Domestic Cotton Sales Reached almost 80% in April
Source: CNTEX Date: 2007-05-25
Cotton Market Monthly Report issued by China National Development and Reform Commission today says that price of domestic cotton was moderately down in April, thus domestic cotton sales have finished almost 80%.
According to statistics of sample survey of national cotton market monitor system, average sales progress of national cotton processing enterprises had kept 76.7% by the end of this April, increased 18.3% compared with the same period last year. Of the total sales, sales progress of Xingjiang cotton reached 88.8%, 27.3% higher compared with the same period last year.
Cotton futures in Zhengzhou and electronic trading price continued go down in April due to significant fall of the price in international market, however, national spot price came down moderately with a stable trend, hence, procurement of textile enterprises took a cautiously attitude, most of them took their purchase when they really needed to. Average factory price of domestic standard cotton in due month was CNY 13,017 /ton, 0.2% lower compared with last month.
According to statistics of customs office, China imported 215,000 tons of cotton in April, 56.1% lower compared with last month.
