April 17Th Cotton Industry Focus On News Inventory

< p > < strong > Egypt benefited from Brazil's import tariff reduction of cotton < /strong > /p >

< p > the North African country Egypt will benefit from the reduction of cotton < a href= "//www.sjfzxm.com/news/index_cj.asp" > import tariff < /a > announced by the Brazil Foreign Trade Commission (CAMEX) last week.

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< p > according to the announcement, the cotton import tax (Mercusor common naming classification product code 5201.00.20 and 5201.00.90) will be temporarily cut from the current 10% to 0%.

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< p > from May 1, 2013 to July 31st, 80000 tons of imported a href= "//www.sjfzxm.com/news/index_c.asp" > cotton < /a > quota will be lowered, the statement said.

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< p > according to the Arabia news agency of Brazil, in the first two months of this year, Brazil imported 1120 tons of two kinds of cotton and applied zero tariff, of which 319 tons or 28.4% were imported from Egypt.

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< p > during the two months, Brazil imported 2 million 200 thousand US dollars of cotton, of which Brazil imported 961000 US dollars from Egypt.

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< p > market analysts expect that tariff relief will stop the rising cotton prices in Brazil market, which will benefit exporters, such as Egypt and garment manufacturers.

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< p > Egypt cotton is one of the best cotton in the world. Brazil textile company applies Egyptian cotton to improve product prices.

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< p > Egypt cotton is long fiber with high density, and the woven fabric is light and soft.

Brazil continues to increase Egyptian cotton < a href= "//www.sjfzxm.com/news/index_s.asp" > consumption > /a >.

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< p > in 2012, Brazil imported 3200 tons of two kinds of cotton, tariff relief.

The import amount is US $9 million 300 thousand.

Of these, 622 tons of cotton are valued at $1 million 800 thousand, from Egypt.

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< p > besides Egypt, the main cotton supplier in Brazil last year was Israel, with an import amount of US $2 million 600 thousand, followed by the US $1 million 900 thousand, followed by Argentina $1 million 500 thousand, followed by Germany, Greece and Turkey.

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< p > < strong > cotton yield and export increase in the US 2012/13 year < /strong > /p >

< p > the US Department of agriculture's April cotton supply and demand report shows that the US cotton output forecast for this month increased to 17 million 290 thousand bales in 2012/13, as shown in the March 2013 NASS cotton processing report, the upland cotton output increased to 16 million 500 thousand packages, while the ELS cotton output increased to 780000 packs.

The US Department of agriculture will release its final 2012/13 estimate in May 10th.

Due to the unadjusted inventory in early April, the supply of cotton is estimated at 20 million 650 thousand bags this year, about 2 million 500 thousand more than that in 2011/12, but slightly lower than the supply in 2010/11.

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< p > in the April report, the demand for cotton in the United States was also raised, and export expectations were higher in 2012/13.

The US export estimate was raised by 250000 packs to 13 million packages, reflecting strong export demand and increased import demand in recent weeks, especially for China, which is the main destination for US exports.

Although the increase was 1 million 300 thousand packs over the previous year, the current 2012/13 forecast is equivalent to a 5 year average.

Similarly, the proportion of world trade in the United States is estimated to be 30% of 2012/13 from about 26% in 2011/12.

Although it has improved over the past year, the proportion of world trade projections by the United States in 2012/13 will be the second lowest in a century.

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< p > on the other hand, the amount of textile mills in the United States has been maintained at about 3 million 400 thousand packs, an increase of 100000 packs compared with that in 2011/12, but it is still one of the lowest dosage in more than 100 years.

In the first 7 months of 2012/13 sales, the amount of textile mills continued to exceed the level of the previous year.

In the month of August -2, the amount of cotton textile mills in the United States was close to 2 million packs, compared to 1 million 900 thousand packages in 2011/12, or about 3% higher than that in the previous year.

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< p > < strong > cotton prices vary, and port cotton does not change much less than /strong > /p >

< p > last week, the main pactions in the market were mainly Australian cotton ship futures shipped in 5 and June, and the paction price was mostly 100-102 cents.

Last Friday, the global commodity market declined as a whole. ICE cotton first fell and then rose. The port cotton price did not change as a whole on Monday, but the number of people who saw goods was significantly less.

On Monday, ICE cotton was greatly reduced by the continued decline in the global commodity market, with a strong market wait-and-see attitude.

Although the spot price of cotton has declined as a whole, the price of Australian cotton has not risen, which is mainly related to the adjustment of Australian cotton basis. Some cotton traders have adjusted the previous 1400-1500 point adjustment to 1550 points, and some cotton traders are shifting the ICE cotton contract in May to the July contract. The spot quotation is based on the July agreement. The July contract is roughly 200 higher than the May contract, and the futures price of the Australian cotton ship has been slightly raised, and the futures price of other cotton ships has been decreasing, and the price of the port cotton has not been adjusted.

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< p > it is understood that the company that has issued the sliding quota tax quota has already completed the purchase, or has already completed the purchase plan in the later stage, and the quota tax quota that can be used is tight.

Although the customs had been digested by customs and uncleared cotton for some time ago, with the continuous arrival of cotton, port inventory did not change as a whole, and the total number of cotton that was not cleared was about 500 thousand tons.

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