Prices Continue To Fall, But The Risk Of "Crazy" Cotton Is Out Of Venture Capital.
A year ago
market
The hot money left behind the market "sequelae" this year, making cotton farmers, cotton merchants, textile enterprises are particularly sad days.
Yesterday, the China cotton reserve management company said that the enthusiasm of cotton growers increased significantly this year due to the impact of high prices last year. It is estimated that China's cotton output will reach 7 million 400 thousand tons in 2011, an increase of 1 million 380 thousand tons compared with last year, an increase of 18.6%.
Cotton prices fell from 34 thousand yuan a tonne to 21 thousand yuan today. Last year, cotton prices on roller coaster fell in the summer.
Recently, as the industry weathervane, the largest textile enterprise in China, Shandong Wei Qiao, once again lowered its cotton price when purchasing cotton, is the fifth time the purchase price has been cut down after July, and the cumulative reduction has reached 3700 yuan / ton. At present, the purchase price of 429 cotton is only 19500 yuan / ton.
This is another fall in November following the withdrawal of idle funds last year and March this year.
Last week, international cotton prices fell for sixth consecutive weeks, and the growth of new cotton in China and the weakening demand for textile mills also made this year a year.
Cotton price
At the height of CPI, it is extraordinarily cheap.
Undoubtedly, this summer cotton lacks the hotbed of hot money speculation.
"Idle capital is always the way to go," said Chen Kexin, an expert in the center for promoting productivity in China Merchants. "The demand for agricultural products has remained relatively stable every year. The biggest disturbance of price is the supply side effect. Because agricultural products have a long growth cycle, information is very opaque, and it is easier to be used by funds, exaggerating the supply and demand information and raising the price."
After the hot money, it left behind a mess.
Cotton traders are generally pessimistic about cotton market, and the rainy season has already arrived.
Cotton merchant
Afraid of losses, stop buying.
In this way, the purchase price of grade 4 cotton has been reduced to 4 yuan / Jin from the highest 7 yuan / catty last year.
However, there are still some market participants who are affected by international and domestic fundamentals. The market for next year is still shrouded in a bearish atmosphere.
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