Global Perspective: Focus On The Data Of International Cotton Industry Weekly Report

 

The average settlement price of 2203 contract in New Zealand Futures this week was 123.63 cents / pound, which was 160 points higher than last week's average price; The average settlement price of 2205 contract was 120.05 cents / pound, down 20 points from last week.

This week, the spot price of Upland Cotton fluctuated downward. The average price of cotook a index was 135.71 cents / pound, down 137 points from last week's average price; Import cotton price index (FC index) m class weekly average price of 136.59 cents / pound, month on month fell 120 points from last week's average price.

The United States: this week's US cotton export data showed that the contracted quantity of upland cotton and horse cotton increased month on month, and the shipping momentum remained strong. Specifically, in the week from February 18 to February 24, the net contracted amount of Upland Cotton in the United States in 2021 / 22 (including the signed 79129 tons and the cancellation of the previous contract 68 tons), increased by 41% compared with the previous week, with an average increase of 51% compared with the previous week; Shipment of 80309 tons of Upland Cotton in 2021 / 22, decreased by 6% compared with the previous week and increased by 14% on average over the last four weeks. The net contracted Pima cotton in this year was 1678 tons, an increase of 51% over the previous week; Shipment of 2495 tons of Pima cotton, 39% less than the previous week.

In terms of weather, according to the latest water conservancy data, as of March 1, the snow cover rate in California was only 63% of the average value in the same period of previous years, and the overall situation was still in severe drought, which forced rainfall to "quench thirst". In recent years, the warm and soft weather has continued in the southwest cotton region, and the groundwater supply in the plateau and Luoling plain is short. Most of the soil varies from severe to extremely arid, and only local is moderate drought. Therefore, it is generally in urgent need of water supply. The weather was warm in the central and Southern cotton areas, and the soil moisture in Memphis improved slightly. However, drought was common in most cotton areas in Southern Arkansas, Louisiana and Mississippi. The degree of drought ranged from abnormal drought to extreme drought.

India: after last week's Indian cotton spot price retraced to 77050 rupees / Kandi, the spot price rose again to 78000 rupees / Kandi this week. According to the latest January supply and demand balance table released by the cotton association of India (CAI), the total output of this year is expected to be 5.833 million tons, and the expected output will be reduced by 1.4% on a month on month basis, with a year-on-year decrease of 2.8%. Recently, the Central Cotton Research Institute has issued a warning on pink bollworm to the agricultural departments of Punjab and Haryana, and put forward suggestions for planting specific cotton varieties. The insect pests in the new year may still plague India.

Pakistan: Recently, affected by the tense international geopolitical situation, the New Zealand Futures market is in a weak shock, which further aggravates the wait-and-see mood of Pakistan's domestic textile enterprises, and the market transaction is very limited. This year, cotton farmers' income is good, and the enthusiasm for cotton planting in the new year is high. It is expected that the cotton planting area in Punjab and Sindh will be expanded, and the total output is expected to increase. The new cotton in early sowing cotton fields may be listed from the end of May.

Turkey: in January, Turkey's cotton import volume was 84000 tons, down 12.6% month on month (96000 tons) and 1.2% higher than that of 83000 tons; In 2021 / 22, Turkey imported 548000 tons of cotton, an increase of 5.2% over the same period of last year (521000 tons). In terms of import source countries this month, Brazil cotton (26000 tons) accounted for the highest proportion, 30.7%; Others mainly include Greek cotton (13000 tons) accounting for 15.1%, and American Cotton (1.0 tons) accounting for 12.2%, with a small amount of West African cotton (3433 tons) accounting for 4.1%, Australian cotton (3409 tons) accounting for 4.0%, Syrian cotton (1573 tons) accounting for 1.9% and Argentina cotton (1362 tons) accounting for 1.6%.

Argentina: in January, Argentina exported 14000 tons of cotton, a decrease of 24.87% compared with December (18000 tons), and an increase of more than six times compared with the same period (2000 tons). In terms of export destinations of the month, Vietnam (5721 tons) accounted for the highest proportion, about 41.2%, followed by Pakistan (5043 tons), accounting for 36.3%; Others include Turkey (1900 tons) accounting for 13.7%, Indonesia (540 tons) for 3.9%, China (395 tons) for 2.8% and Taiwan (295 tons) for 2.1%.