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The Chinese government began to sell reserved cotton, talking about affecting cotton import business
Standard Group Textile Industry News: The Chinese government has begun to sell reserved cotton, which will affect the cotton import business. In 2016/2017, the global cotton planting area is expected to be 31.4 million hectares, an increase of 1% year-on-year, 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%. Global cotton consumption is expected to be 23.7 million tons. Due to the slowdown in China's economic growth, China's cotton consumption is expected to continue to decline by 5% to 6.8 million tons. India and Pakistan are expected to consume 5.5 million tons and 2.2 million tons, respectively, up year-on-year 4% and 1% Due to the tight cotton supply in India and the large-scale purchase and storage of the Indian government last year, the price of cotton in India has strengthened. The area of u200bu200bcotton planted 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. As a result of the implementation of the cotton policy, my country’s cotton prices have remained strong, but the increase in production costs has reduced the competitiveness of cotton. The area of u200bu200bcotton planted is expected to decrease by 10% to 3.1 million hectares. If the unit yield remains the same year-on-year, cotton production is expected to drop by 10% to 4.6 million Ton. The competitiveness of U.S. cotton has increased. The area of u200bu200bcotton planted is expected to increase by 12% to 3.3 million hectares, and the average yield per unit is expected to increase by 9% to 3.1 million tons. Pakistan's domestic cotton prices are firm. The cotton area is expected to expand to 2.9 million hectares, an increase of 3% year-on-year. The average yield is expected to be 46.5 kg/mu, and the output is expected to reach 2 million tons, an increase of 35% year-on-year. This year, global cotton imports are expected to decrease by 3% to 7.4 million tons, and my country’s cotton imports are expected to decrease by 40% to 1.1 million tons. Cotton imports in Vietnam and Bangladesh continue to grow driven by increasing consumption. Imports are expected to be 1.1 million tons, an increase of 17% year-on-year to 1.1 million tons, and Bangladesh’s cotton imports are expected to increase by 12% to 1.1 million tons. Since import quotas are limited to 1% tariff quotas and reserve cotton will meet domestic demand, my country’s cotton imports are expected to drop by 13% to 9.4 million tons. However, strong growth in Vietnam’s consumption may increase cotton imports by 25% to reach 1.4 million tons, Bangladesh's cotton imports are expected to be 1.2 million tons, an increase of 5%. my country’s restrictions on cotton imports and the rotation of reserve cotton may reduce my country’s cotton inventory in 2015/2016 to 12 million tons, a year-on-year decrease of 7%. If market conditions remain stable, my country’s cotton inventory is expected to continue to fall by 10% in 2016/2017. 10.9 million tons. This year, cotton stocks outside of my country are expected to be 8.4 million tons, a decrease of 7% year-on-year, but 2016/2017 is expected to increase by 2% to 8.7 million tons.
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