According to the cotton supervision warehouses in Kuitun, Urumqi, Aksu and other places, the number of Xinjiang cotton truck shipments has continued to decline since December, especially in Bachu, Aksu and other southern Xinjiang areas, the road transportation of hand-picked cotton has declined significantly (lint cotton out of Xinjiang) The main reasons are the decline in grade, the increase in impurities and the nearly halving of cotton enterprise procurement demand); road transportation quotations continue to fall slightly. In December/January/February, the focus of cotton transportation in Xinjiang shifted to railways. Comparatively speaking, stations in southern Xinjiang such as Korla, Bachu, and Aksu are more enthusiastic and enthusiastic about shipping to inland warehouses than those in northern Xinjiang.
According to statistics from the Cotton Logistics Branch of the China Cotton Association, as of the end of November, the total national cotton turnover inventory was approximately 370.15 million tons, higher than 170,300 tons in the same period last year; among which, the commodity cotton turnover inventory in 43 warehouses in Xinjiang was 3.2452 million tons, higher than 277,200 tons in the same period last year. It is worth noting that as of the end of October, the turnover inventory of commercial cotton in Xinjiang was 362,200 tons higher than the same period last year, and as of November, the number of Xinjiang cotton public inspections in Xinjiang in 2019/20 was lower than the same period last year, 27,900 tons, so it can be It is judged that the year-on-year decline in the number of Xinjiang cotton exports in November 2019/20 was more prominent.
Why are Xinjiang cotton enterprises not enthusiastic about moving warehouses? The author’s analysis mainly has the following four reasons: First, the inventory of old cotton in Xinjiang in 2018/19 is relatively large; in addition, the price difference between new cotton and old cotton in domestic basements widened to 300-500 yuan/ton in November and December. The value of early cotton and mid-term cotton is relatively large, so currently textile enterprises still mainly purchase and consume old cotton; secondly, most ginners/traders have already hedged or planned to hedge high-grade and high-quality cotton with Zheng Cotton. , the CF2005 contract has sufficient time for delivery within and outside Xinjiang (hedging companies tend to generate warehouse receipts in Xinjiang warehouses for financing, sales or delivery); thirdly, moving to inland warehouses will not only take up transportation costs but also occupy working capital. Moreover, the occupation period is relatively long; in addition, the Xinjiang cotton transportation subsidy policy for 2019/20 has not yet been announced and the charges for inland warehouses are significantly higher than those for Xinjiang supervision warehouses. Fourth, as China and the United States reach the first phase of trade According to the agreement, Chinese trading companies and cotton textile mills are expected to import medium and high-quality US cotton in 2019/20 on a large scale. Supply pressure will increase, and there will be little difference in Xinjiang cotton sales within and outside Xinjiang. </p
