China Cotton Price Index Down 11% in Ten Days

The crazy cotton price made a respite recently. According to the data from China Cotton Association on Nov. 23th, impacted by the futures market, China Cotton Price Index cut 474 yuan to 27,881 yuan per ton. Comparing to the historic high as 31,302 yuan per ton on Nov. 11th, it went down 11% in nearly 10 days.

To curb the cotton prices, the supervision department dump about one million tons cotton into the market from Aug. to Oct. The development and reform commission also organized special meeting to arrange railway transportation of Xinjiang cotton into inland.

Otherwise, since the cotton yeild reduction and inflation anticipation, the cotton price may remain high at the rest of this year. The official figure estimates that the cotton output this year will be 6.36 million tons, decreasing 5.5% from previous year.