Xingtai: Cotton planting area decreases, sales mainly wait and see
Affected by factors such as the purchase price of seed cotton and the cost of growing cotton last year, the cotton planting area in Xingtai, Hebei this year decreased by about 10% compared with last year.
A local cotton farmer said that this year many local farmers have switched to wheat and corn. Judging from this year’s cotton growth, cotton planting costs are basically the same as last year, and the output and price are expected to improve compared with last year.
In the spot market, there are no transactions in this region for the time being. Most purchasing companies place orders at point prices, waiting for a market correction. At present, textile companies are operating normally, and most raw material purchases are based on rigid needs. Many companies are optimistic about the market outlook and express their concern about whether the country will release reserves.
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