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Chinese government begins to sell cotton reserves to affect cotton import business
Textile industry information: The Chinese government began to sell cotton reserves, affecting the cotton import business. In 2016/2017, the global cotton planting area is expected to be 31.4 million hectares, a year-on-year increase of 1%, the average yield is expected to increase by 4% to 48.8 kg/mu, and the cotton production is expected to be 22 million tons, an increase of 4%. The global cotton consumption is expected to be 23.7 million tons. Due to the slowdown in my country's economic growth, my country's cotton consumption is expected to continue to decline by 5% to 6.8 million tons. The consumption in India and Pakistan is expected to be 5.5 million tons and 2.2 million tons, up respectively year-on-year. 4% and 1% Due to the tight cotton supply in India and the large-scale purchase and storage of Indian cotton in the previous year, Indian cotton prices strengthened. The cotton planting area in India is expected to increase by 4% to 12.4 million hectares, and the output is expected to increase by 10% to 6.5 million tons. Due to the implementation of the cotton policy, my country's cotton prices remain strong, but the increase in production costs makes cotton less competitive, and the cotton planting area is expected to decrease by 10% to 3.1 million hectares. Ton. The competitiveness of U.S. cotton is expected to increase by 12% to 3.3 million hectares, and the average yield is expected to increase by 9% to 3.1 million tons. The domestic cotton price in Pakistan is strong. The cotton area is expected to expand to 2.9 million hectares, a year-on-year increase of 3%. The average unit yield is expected to be 46.5 kg/mu, and the output is expected to reach 2 million tons, a year-on-year increase of 35%. This year, the global cotton import volume is expected to decrease by 3% to 7.4 million tons, and my country's cotton import volume is expected to decrease by 40% to 1.1 million tons. Imports are forecast at 1.1 million tonnes, up 17% year-on-year to 1.1 million tonnes, while Bangladesh cotton imports are forecast to rise 12% to 1.1 million tonnes. my country's cotton imports are expected to fall by 13% to 9.4 million tons, as import quotas are limited to 1% tariff quotas and reserves will meet domestic demand, but strong growth in Vietnam's consumption may increase cotton imports by 25% to 9.4 million tons. 1.4 million tons, Bangladesh cotton imports are forecast at 1.2 million tons, up 5%. my country's restrictions on cotton imports and the rotation of cotton reserves may reduce my country's cotton inventory in 2015/2016 to 12 million tons, a year-on-year decrease of 7%. If the market situation remains stable, my country's cotton inventory in 2016/2017 is expected to continue to decline by 10%. 10.9 million tons. This year, cotton stocks outside my country are expected to be 8.4 million tons, down 7% year-on-year, but are expected to increase by 2% to 8.7 million tons in 2016/2017.
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