China Cotton Auction: Average Auction Price At New Low

MUMBAI (Commoditiescontrol): China Cotton Auction: Average Auction Price At New Low

Auction Quantity

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

Quantity in Metric Tons

From 3rd May to 26th May 513046.50 tons of cotton or 99.35 percent of total quantity offered has been sold in the auction. Share of Imported cotton sold so far fell further at 54.43 percent as compared to 55.90 percent on Wednesday, while Share of domestic cotton increased to 45.57 percent from 44.10 percent.

Quantity on offer once again dropped to the lowest level ever since the auction started on 3rd May. Total offer was 20099.20 metric tons from 25128.80 metric tons offered on Wednesday. Average quantity offered until yesterday fell for the first time below 29000 tons to 28687.78 tons as compared to 29192.99 tons yesterday. Both quantity of domestic cotton and imported cotton reduced. Quantity of domestic cotton offered reduced by 15.01 percent after increasing by 5.13 percent on Wednesday. Quantity of imported cotton offered reduced by 37.41 percent after reducing by 52.10 percent on Wednesday.

Ratio of Sales To Domestic and Imported Cotton

Ratio of domestic cotton on offer reached a new high of 82.24 percent from 77.32 percent on Wednesday. Likewise, ratio of imported cotton on offer reached a new low of 17.76 percent from 22.68 percent.

Of the 16592.39 tons of domestic cotton offered 16233.80 tons or 98.22 percent was sold while 100 percent of the 3506.83 tons of imported cotton was sold.

Auction Turnover And Staple Length

Total turnover kept on moving lower as the week progressed. From starting at an impressive 99.93 percent turnover stood at 98.22 percent on 26th May. Thursday’s turnover has been the lowest turnover so far since the auction started.

Staple length however improved from 27.84 MM to 28.28 MM.

Auction Price

A new low in average auction price was reached when it averaged at 12017 yuan yesterday. Average auction price on Wednesday was at 12159 and thus the fall in auction prices was by 2.32 percent.

Improvement in staple length however led to improvement in both highest and lowest selling price. Highest selling price increased by 0.84 percent yesterday to 13170 yuan while lowest selling price moved up by 1.90 percent to 10740.

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 20070.59 tons of cotton will be offered today. 16826.33 tons will that of domestic cotton while 3244.26 tons will be that of imported cotton.

1st Session – 10030.20 tons will be offered of which 8334.08 tons will be of domestic cotton while the remaining 1696.12 tons will be of imported cotton.

2nd Session – 10040.39 tons will be offered of which 8492.25 tons will be of domestic cotton while the remaining 1584.14 tons will be of imported cotton.

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