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2007-9-12
A survey by cotton integrated mission shows that cotton production in Hebei, Shandong and Henan provinces has been good this year. The yield is expected to reach a bumper harvest, especially in light of the fact that state subsidies for cotton seeds have been made available. Various regions have sown fine seed; also, good climatic conditions have led to a good harvest.
However, driven by cotton production costs, prices have shown a rising trend in the last six months. RMB appreciation and other financial factors have also added to the price rise. Thus, cotton growers are expecting the new cotton price to open on a higher rate this year. These will arrive in the market by mid-September.
According to the survey, this year, the acquisition price of seed cotton is expected to be not lower than 3.0 yuan per half kg and between 13,000-13,500 yuan for one ton of cotton seed.
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