资讯 1 10 英文网 287 Events 595591 NCMMS releases 2020 Cotton Market Intellegence Report 2020-09-28 10:56:17 yangfang
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NCMMS releases 2020 Cotton Market Intellegence Report
2020-09-28

On September 25, the press conference for the release of 2020/2021 Cotton Market Intellegence Report and the Launch of New Version of National Cotton Data Center” by National Cotton Market Monitoring System was held in Beijing. CCTV agricultural and rural channel, Xinhua Net, China Textile News and other media attended this event.  

 

Feng Mengxiao, chief economist of China Cotton Information Center, pointed out in the 2020/2021 Cotton Market Intellegence Report that global cotton consumption dropped significantly in 2019 due to the dual impact of trade friction and COVID-19, trapping into the low point in the past 15 years, and the global cotton supply and demand relationship changed from significantly loose state to extremely loose state, which showed in cotton prices. In that year, domestic and foreign cotton prices were full of twists and turns, and CNCotton B indicator fell by 17.6% year on year. The report predicts that in 2020/2021, the inventory of global cotton at the beginning of the period will expand significantly, with a decline in yield and an increase in consumption, and cotton supply will significantly exceed than demand.  

 

From the perspective of domestic situation, domestic consumption is gradually improving. Since April, the decline of China’s garment exports has narrowed, and exports increased by 3.23% in August, domestic garment consumption recovered to a year-on-year increase of 4.40%, and consumption willingness and consumption ability are still the decisive factors restricting the recovery of domestic demand. From the perspective of industrial chain, affected by the sufficient market fund, upstream cotton prices are rising unsteadily, yarn prices are relatively stable, cloth prices are still falling, and industrial chain prices transmission is not smooth.  

 

The report pointed out that in 2020/2020, the post-epidemic era of the global economy has entered a period of low growth, with extremely abundant global liquidity, general excessive production capacity of traditional manufacturing industry, and insufficient global investment opportunities, there are still great uncertainties in the financial market in the future, which will affect the conversion of the cotton pricing mechanism. It remains to be seen whether the epidemic situation can be effectively controlled in the later stage and whether consumption in overseas markets can recover, and cotton-related enterprises need to take precautions against the above situation. More early warning report content, please pay attention to the whole text of 2020/2021 Cotton Market Intellegence Report on CNCotton.com.

At this conference, Zhang Tong, deputy general manager of China Cotton Information Center, introduced and demonstrated. The new version of National Cotton Data Center comprehensively uses intelligent monitoring, data crawler and other technologies, fully covering and obtaining data of links of domestic and foreign cotton industrial chain, uses big data analyzing technology to carry out regular multiple dimensional analysis and processing and personalized multiple dimensional analysis and processing to provide monitoring research and customers with comprehensive, authoritative, stable, timely and convenient data services.  

 

Ren Xi, director of the Research Office of China Cotton Information Center, shared the Investigation Report on the Growth of Cotton in China of National Cotton Market Monitoring System. It is expected that the per unit yield of 2020 new cotton and the total yield will be higher than that of last year, with the total yield of 5.868 million tons, an increase of 0.4% and the per unit yield of 5.4%. 

 

Finally, CCTV agriculture and rural channel, Xinhua Net, China Textile News and other media in Beijing interviewed and interacted with each other on the report. The content of this press conference will be released on relevant media platforms through audio, video, text and other forms. Stay turned.