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Cotton planting intention of 2013: slight increase in xinjiang, large decrease in inland

Cotton planting intention of 2013: slight increase in xinjiang, large decrease in inland Source:
Date: 20-03-2013
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After Spring Festival, CCA made the second survey on cotton planting intention of 2013, the result shows that, as response to absence of new season reserve policy and sluggish market after holiday, cotton planting intentions enlarged the decline of earlier estimate. The projection is that cotton production acreage of 2013 would be 68.16 million mu nationwide, and the planting intention decreased by 6.8% in average compared with the corresponding time last year, 2.3% down than last December estimate.

In Xinjiang, the last bumper season and smooth reserve trade ensured growers interests and slight increase of cotton acreage for new season, though less increase than last survey. As for inland, the planting intention decrease amplified, especially in Yellow River regions struck by natural disasters in vital time in the last few years, for which the decline for 2013 is 17.2%, while even more than 20% in Henan, Hebei, Tianjin and Shanxi.
Last week, 11th/15th March, recently cotton yarn was more active than earlier time, however, the general outlook was still unpromising, and domestic lint price was stable, CC Index328 settled at 19,359 Yuan per ton, 15 Yuan up over the week; ZCE cotton nearby contract CF305 settled at 20,455 Yuan per ton, 190 Yuan up over the week; CNCE nearby contract MA1303 had average settlement price of 20,199 Yuan per ton, 47 Yuan up.
As reserve of 2012/13 season approaches the end and seed cotton less available, most ginners retreated from market and a few was hurried at processing for the final reserve trade. Last week, reserve transaction volume was 68,860 ton, slightly more than last week. By 15th March, cotton reserve of 2012/13 season was 6,384,540 ton, with Xinjiang cotton of 2,539,440 ton, inland cotton of 2,118,150 ton and 1,726,950 ton via key enterprises. The reserve release of this week was 87,870 ton in actual trade. By 15th March, reserve release of 2013 calendar year totaled 768,620 ton, 28.93% of the target met.
As for import cotton price, FC Index settled at 98.92 cent/lb., 3.85 cent up over the week.
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