Cotton Middlemen Sell Hoarding And Gamble Cotton Prices

In fact, the rise of textile industry has almost expanded to all raw materials, processing and terminal consumer goods in the industry, and the root of the rise is still on cotton.

As the overall supply was tight, cotton prices began to rise from October last year, and speculative forces began to participate. Many middlemen began to sell hoarding, betting on cotton prices, and continuing to look at journalists.

From the beginning of October 2009, the rise of cotton has begun to appear.

From the beginning of this year, it began to intensify.

Taking grade 2 cotton as an example, the current price has risen from 14000~15000 yuan / ton at the beginning of the year to 17500 yuan / ton, or up to 25%.

And domestic cotton futures prices have also risen to a historical high of around 18000 yuan, the highest point since the listing.

Jiang Dazhong, an analyst at Dalian Liang Yun futures brokerage Co., Ltd.: "the main reason why cotton prices continue to rise is mainly from the tight domestic cotton supply. According to the data released by the National Bureau of statistics, China's cotton output in 2009 is 6 million 400 thousand tons, which is about 1 million 100 thousand tons lower than the 7 million 500 thousand tons in the previous year, so the decline is 14.5%. We can see that this proportion is very large."

Related agencies data showed that cotton prices in 2008 were low, leading to a loss of more than 40 billion yuan for cotton farmers, resulting in a sharp decrease in cotton planting area and total production in 2009, and increased contradiction between production and demand.

In April 19th, India announced a temporary suspension of cotton exports.

India's cotton exports account for nearly 18% of global exports, while China is the largest importer of cotton in India. The strong international cotton prices also exacerbate the rise in domestic cotton prices.

It is understood that on the day when India announced the news, China's cotton price jumped by more than 100 yuan per ton. This expectation led many cotton traders in China to start hoarding goods, with a view to pushing up cotton prices and gaining higher profits.

In the name of purchasing cotton, the reporter dialed the telephone numbers of several cotton merchants and found that it was difficult to get cotton even if the price was obviously higher than the market price.