According to a survey conducted by the national cotton production monitor team in 2,200 farming households in seventy-three counties of eleven provinces in early Dec., farmers had sold 54% of cotton by the end of Nov., a slip of 19.94% on the year-on-year basis; cotton procurement price was RMB4.5/kg, down RMB0.19/kg from the month before and down RMB1.64/kg on the year-on-year basis.
Specifically, farmers sold 56.4% of cotton in the Yangtse River reaches, 31% in the Yellow River reaches and 83.6% in Xinjiang by the end of Nov., 18.4% less, 31.2% less but 1.54% more than the same period of last year respectively. The rapid procurement in Xinjiang was accredited to the government’s protective procurement.
Seed cotton procurement price was RMB4.33/kg in the Yangtse River reaches, RMB4.68/kg in the Yellow River reaches and RMB4.5/kg in Xinjiang, down RMB1.8/kg, RMB1.67/kg and RMB1.32/kg respectively on the year-on-year basis.
Considering the impact of low cotton price on farmers’ initiatives in cotton production, BOABC predicts that China’s cotton acreage may shrink 15 ~ 30% in 2009.
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