In China, rumors are still in circulation that additional Xinjiang cotton may be purchased for the state reserve. As of March 13, 1,353,400 tons of Xinjiang cotton has been purchased for the reserve out of an estimated 2008/09 crop of 2,700,000 tons. If additional purchases are announced, it will have an impact on domestic prices. 3.982 million tons of the 2008/09 crop have been HVI classed. The Fiber Inspection Bureau reports that it has classed 17,092,506 227-kilogram bales of cotton, of which approximately 17% classed Grade 2 (strict middling) and 59.65% Grade 3 (middling). The crop was also long staple, with over 82.5% of all cotton classed at 1-1/8" and longer. An additional 29,600 tons were purchased for the state reserve today.
The AQSIQ reports that a total of 104 firms listed have currently registered to export cotton to China. The regional Xinghua office of the NCMMS in Jiangsu Province just completed its planting intention survey for 2009 crops, with results indicating an anticipated 28.6% reduction in the level of cotton acreage.
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