Imported cotton quotas become the focus again
The basic situation of domestic and international cotton markets from November 9th to November 15th is as follows: The weekly average price of China’s cotton price index is 13,540 yuan/ton (up 10 yuan/ton); National Cotton Trading Market Commodity The weekly average price of cotton electronic matching transactions in recent months is 13,981 yuan/ton (down 74 yuan/ton); the weekly average price of China’s cotton purchase reference price is 13,225 yuan/ton (down 84 yuan); the weekly average price of Zhengzhou cotton futures near-month contracts The price is 14,085 yuan/ton (up 170 yuan/ton); the weekly average price of the New York cotton futures front-month contract is 63.15 cents/pound (down 1.5 cents/pound); the weekly average price of the cotlookA index is 70.28 cents/pound ( increased by 0.01 cent/pound).
The international cotton spot price trend is stronger than the futures price, and there is a certain degree of deviation between the two. Domestic cotton prices are generally weak. Due to the recent sharp increase in cotton seed prices, although the purchase cost price of lint cotton has declined, the purchase price of seed cotton is still rising. The weekly average purchase price of standard grade seed cotton with 36% clothing content and 10% moisture regain is 3.06 Yuan/jin, up 0.02 yuan/jin from the previous week’s average price of 3.04/jin; the front-month contract of Zhengzhou cotton futures CF711 was light in volume due to its impending delisting, so it has little reference significance.
The weekly average price of Cotlook Asia A index is 70.28 cents/pound. Based on this calculation (the average exchange rate this week is 7.4248), the port delivery price of imported cotton under 1% tariff is 13,130 yuan/ton (down 42 yuan/ton), which is 13,130 yuan/ton (down 42 yuan/ton). China’s cotton price index is 410 yuan/ton lower; the port delivery price of imported cotton under the sliding tax is 13,780 yuan/ton (down 44 yuan/ton), which is 240 yuan/ton higher than the China cotton price index. Although the international spot price did not fall this week, the price of imported cotton fell due to the large appreciation of the RMB.
A total of 3.5 million tons of cotton import quotas have been issued this year. As of October, a total of 2 million tons of cotton have been imported. Therefore, there are 1.5 million tons of unused quotas in early November. In order to prevent quotas from being wasted and affecting the number of quota applications for the next year, textile companies will use quotas to import foreign cotton intensively in November. The quota management system for cotton imports was originally designed to protect the interests of cotton farmers. However, due to inaccurate data this year, a large number of quotas were issued. The concentrated use of quotas by textile companies will cause foreign cotton to occupy the domestic market, which will have an adverse impact on the centralized purchase of seed cotton, which will also affect the cotton import quota management system. Protecting the interests of cotton farmers has negative effects.
It is nearing the end of the year. The 2007 annual quotas will be used intensively. The 2019 annual tariff quotas will be issued. The adjusted new sliding quasi-tax policy with convenient measures will also be released soon. The impact of the policy on the market will be concentrated. . AASDFERGTRHR
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