Outside the cotton price is difficult to rise the stability of domestic cotton

Domestic cotton spot prices continue to operate smoothly. The five Chinese ministries discussed that at present, it is not appropriate to abolish the management of cotton import tariff quotas, but will further improve and timely release. The current cotton price level is equivalent to the domestic Xinjiang cotton price according to the 40% full tariff, and there is not much advantage in quotas in China. There is no room for further increase in foreign cotton prices.

Imported cotton prices in China's main ports have risen and fell, with West Africa and Brazil cotton up 0.5 cents and 1 cent, respectively, while US cotton, Australian cotton and Central Asia cotton have fallen 0.5-1 cent, and Indian cotton prices have remained stable. From the perspective of market conditions, the sharp drop in the Canton Fair's turnover as a market indicator has become a microcosm of the sluggish demand. At the same time, the continuous listing of new cotton in the Northern Hemisphere has made the supply of resources more abundant. However, given that it is difficult for domestic and foreign cotton prices to continue to expand, China's purchase and storage and textile mills' preference for low-cost cotton will provide support for the market.