Large cotton consumption and balance supply and demand

Update:25 Jun 2021

At the Fourth Council of the Fourth China Cotton Associ […]

At the Fourth Council of the Fourth China Cotton Association held a few days ago, Wang Jianhong, Vice President and Secretary-General of the China Cotton Association, introduced that my country is the world's second largest cotton producer and the largest cotton consumer. In recent years, my country's cotton consumption has stabilized at 75 to 8.5 million tons per year, accounting for one third of the total global cotton consumption. It is estimated that from 2020 to 2021, my country will produce 5.92 million tons of cotton, consume 8.1 million tons, and import 2.35 million tons.
To ensure the stability of the domestic cotton supply chain, my country is actively expanding import channels and strengthening cooperation with important cotton-producing countries such as Brazil and India. my country has also established a cotton reserve system to ensure the safety of cotton farmers. Mao Shuchun, a researcher at the Institute of Cotton Research of the Chinese Academy of Agricultural Sciences, said that overall, my country's cotton supply and demand are basically balanced. The production and import of cotton and the import and export of cotton and cotton products, cotton and cotton products and clothing are roughly in a "quantity" relationship. Domestic cotton raw materials are sufficient. Guarantee.
According to reports, driven by the rebound in domestic and foreign consumption, the production and sales of textile enterprises have rebounded, and the domestic cotton prices have risen sharply recently. On March 2, China's cotton price index reached 16,711 yuan/ton, a new high since September 2018. As of March 24, the annual average price was 14,661 yuan/ton, a year-on-year increase of 16.7%.
"The total domestic cotton production remains stable, and the regional distribution continues to be concentrated in Xinjiang." Wang Jianhong said that Xinjiang is China's largest cotton producing area, with an annual output of about 5 million tons of cotton. More than 40% of the cotton fields are harvested mechanized, and cotton has become a place. The main source of income for farmers, especially in the minority areas of southern Xinjiang.