Cotton: According to the announcement of the National Bureau of Statistics, China’s cotton planting area will be 3000.3 thousand hectares in 2022, down 0.9% from the previous year; The unit cotton yield per hectare was 1992.2 kg, an increase of 5.3% over the previous year; The total output was 5.977 million tons, an increase of 4.3% over the previous year. The cotton planting area and yield forecast data in 2022/23 will be adjusted according to the announcement, and other supply and demand forecast data will be consistent with that of last month. The progress of cotton processing and sales in the new year continues to be slow. According to the data of the National Cotton Market Monitoring System, as of January 5, the national new cotton processing rate and sales rate were 77.8% and 19.9% respectively, down 14.8 and 2.2 percentage points year-on-year. With the adjustment of domestic epidemic prevention and control policies, social life has gradually returned to normal, and demand has turned better and expected to support cotton prices. Considering that the global economic growth is facing multiple adverse factors, the recovery of cotton consumption and foreign demand market is weak, and the later trend of domestic and foreign cotton prices remains to be observed.
Post time: Jan-17-2023