A survey conducted by the Ministry of Agriculture in 2,200 farming households in 73 counties in China shows that 88.5% of cotton had been harvested and 32.7% of harvested cotton had been sold by Oct. 30, exceeding the same period of last year by 2.2% but lagging behind the same period of last year by 23.7% respectively. Cotton procurement price averaged RMB5.05/kg in late Oct., down 16.4% on the year-on-year basis.

Cotton harvest had been done by 91.8% in the Yellow River reaches, 84.6% in the Yangtse River reaches and 87% in the Northwest by the end of Oct., 5% more, 2.4% less but 3.3% more on the year-on-year basis respectively. In the Northwest, Xinjiang had picked 86.6% of cotton, 3.4% more than the same period of last year.

Of the cotton harvested, farmers sold 19.5% in the Yangtse River reaches, 10.1% in the Yellow River reaches and 61.2% in the Northwest, 41% less, 30.5% less and 7% less than the same period of last year respectively.

Seed cotton procurement price was RMB4.92/kg in the Yangtse River reaches, RMB5.11/kg in the Yellow River reaches and RMB5.07/kg in the Northwest, down RMB1.08/kg, RMB1.17/kg and RMB0.74/kg respectively on the year-on-year basis.

List

News Briefs 1

Cotton Procurement Progress 2

Estimates of Cotton Consumption 5

VAT Reform Conducive to Textile Industry’s Profit Growth 7

PPI & CPI Growth Rate Going Down in Oct. 8

Garment Consumption Growth Rate Slowed Down in Oct. 9

Textile & Garment Exports in Oct. 11

Listed Textile Companies’ Dissatisfying Performance in 2008 12

Weather & Cotton Conditions (4, November -17, November) 13

Price Trends: 14