China National Cotton Reserves Corporation (CNCRC) to forecast the high yield of cotton

July 6, an article composed by China National Cotton Reserves Corporation on the website of State Assets Administration Committee said that, except the region of middle and lower reaches of Yangtze River suffered the drought and flood earlier on, cotton plants in the remainder of the main producing regions see a fine grow. If there is no big natual disaster later period, it’s likely that the cotton will welcome a good havest this year.

CNCRC said, since more rain fell in the Huanghe valley producing regions, cotton plants are growing well there. In Yangtze River valley, after the attack of drought and then flood, cotton plants are now in quite different conditions. Weather in the inland of Northwest is normal, so cotton plants are growing well. CNCRC also indicated that actual acreage for cotton in the U.S. increased by 25% from a year ago, which is bigger than expectation. Cotton from Australia, Brail and western Africa have been accessed to market all around. India increased the export quotas of cotton; Yet, the market demand continued low, debt crisis in euro area and such factors lead to rise and fall of the international cotton prices.