Textile market rebounds, domestic cotton prices rise

In 2019/20, due to factors such as the epidemic and economic and trade frictions between China and the United States, the demand for cotton in the market was sluggish, and the overall decline in cotton prices was significant. However, with the steady recovery of the domestic economy, cotton prices gradually rebounded; The domestic cotton policy remains stable, the target price continues to be implemented in Xinjiang, the rotation of reserve cotton is steadily advancing, and import quotas are issued in a timely manner; Cotton production has steadily declined slightly, imports have continued to decrease, and ending inventory has decreased compared to the previous year. In August, the traditional peak season for textiles approached, and the market improved. Enterprise orders increased, domestic cotton prices continued to rise, reserve cotton shipments continued to be fully traded, and commercial cotton inventory decreased. The China Cotton Association predicted that the total cotton output in 2020/21 will be 5.9315 million tons, with a year-on-year increase of 0.44%; The import volume was 1.98 million tons, a year-on-year increase of 25.3%; The consumption was 7.99 million tons, a year-on-year increase of 4%.