Ningbo Port: High Price Of Imported Raw Cotton

By the end of October, Ningbo port had imported 48 thousand tons of raw cotton, 2.1 times more than the same period last year, and imports amounted to US $85 million 140 thousand, an increase of 3 times compared with the same period last year.

Ningbo customs officials believe that the high price of imported cotton is mainly due to the recent decline.

Cotton prices have gone all the way since the beginning of this year, especially in recent months.

The reporter learned from the China cotton trading network that the cotton price in the domestic market was 18 thousand yuan per ton in August, which was close to 20 thousand yuan per ton at the end of September and reached 30 thousand yuan per ton by the end of October.

In November 11th, the first class cotton originated from Jiaxing sea salt was quoted at 31200 yuan per ton.

Cotton prices continued to soar, resulting in a slowdown in the export sales of our textile enterprises.

Ningbo customs statistics show that between January and September this year, the city's textile and apparel products totaled 7 billion 510 million US dollars, an increase of 18.3% over the same period last year, an increase of 19.4 percentage points below the total export volume.

For cotton prices after market trend, the China cotton association responsible person expects: from the end of November to the beginning of December, the domestic cotton price rise trend is expected to be effectively curbed, or even a substantial decline.

Not long ago, seven ministries and commissions, such as the national development and Reform Commission, issued urgent notices and put forward six measures to safeguard the current order of the cotton market.

In addition, the new cotton market will be on the market in the near future, and the number of imported cotton will increase, which is expected to change the tight supply and demand relationship.