China Cotton Auction: Domestic Cotton On Offer Increasing Over The Past Two Days

MUMBAI (Commoditiescontrol): China Cotton Auction: Domestic Cotton On Offer Increasing Over The

Past Two Days

After a brief period of increasing offer of imported cotton, Chinese State Reserves has once again increased

the share of domestic cotton on sharply.

Auction Quantity

Auction commenced on 3rd May. Cotton being auctioned is that of the years 2012-13 and 2013 - 14.

Total Quantity Offered	Total Quantity Sold	Total Domestic Cotton Sold	Total Imported Cotton Sold
496280.8	493305.9	217556.3	275749.6

Quantity in Metric Tons

From 3rd May to 26th May 493305.90 tons of cotton or 99.40 percent of total quantity offered has been

sold in the auction. Share of Imported cotton sold so far stood at 55.90 percent on Wednesday, while

Share of domestic cotton was at 44.10 percent.

Quantity on offer once again dropped to 25128.80 metric tons yesterday from 30060.80 metric tons

offered on Tuesday. Average quantity offered until yesterday stood at 29192.99 tons. Quantity of domestic

cotton offered increased by 5.13 percent yesterday while imported cotton offered decreased by 52.10 percent.

Ratio of Sales To Domestic and Imported Cotton

After a brief change in the ratio of imported cotton on offer being higher ratio of Domestic Cotton being

offered once again dominated the proceedings. Ratio of domestic cotton stood at 77.32 percent up from

60.83 percent on Tuesday. Ratio of imported cotton stood at 22.68 down from 39.17 percent on Tuesday.

After a brief increase in offering of imported cotton on last Friday and Monday Chinese State Reserve

has once again increased offering of domestic cotton and reduced that of imported cotton.

Of the 19525.97 tons of domestic cotton offered 19100.7 tons or 98.46 percent was sold while 100 percent

of the 5602.87 tons of imported cotton was sold.

Auction Turnover And Staple Length

Total turnover after starting this week on a positive note at 99.93 percent has declined over the past two days

to 99.36 on Tuesday and 98.31 percent on Wednesday.

Staple length after falling to 27.37 MM on Tuesday improved marginally to 27.84 MM yesterday. However staple

length has dropped from the 28 MM + level seen during the previous week.

Auction Price

Average auction price has been declining over the past two days as well from 12362 yuan on Monday to 12159 yesterday

a drop of 1.64 percent.

Highest selling price dropped by 1.14 percent yesterday to 13060 yuan while lowest selling price dropped by 0.66 percent

to 10540.

Floor Price For Week 23rd To 27th May

Floor price for the coming week has been fixed at 11884 yuan per ton up by 45 yuan as compared to the previous week’s

floor price of 11839 yuan per ton.

Today’s Offer

Today 20099.22 tons of cotton will be offered today. 16592.39 tons will that of domestic cotton while 3506.83 tons will be

that of imported cotton.

1st Session – 10022.60 tons will be offered of which 8301.09 tons will be of domestic cotton while the remaining 1721.50 tons

will be of imported cotton.

2nd Session – 10076.62 tons will be offered of which 8291.30 tons will be of domestic cotton while the remaining 1785.33 tons

will be of imported cotton.

(By Commoditiescontrol Bureau; +91-22-40015522)