Xinjiang’s first batch of cotton target price subsidies begins to be paid
After New Year’s Day, some areas in Xinjiang began to issue the first batch of pre-allocated cotton target price reform subsidy funds for 2016, and the standard for payment of subsidies was set as seed cotton 0.5 yuan/kg. Counties (cities) and townships (towns) are based on the decomposed and implemented seed cotton sales volume and subsidy payment standards, combined with information such as cotton planting area, local yield warning upper limit and necessary invoices, on a village basis. Publicize subsidies. According to the “2016 Xinjiang Uygur Autonomous Region Cotton Target Price Reform Pilot Work Implementation Plan”, before the end of February 2017, the Autonomous Region Finance Department will determine the total remaining subsidy liquidated by the state and the cotton planting area and cotton planting area of basic farmers in the four prefectures of southern Xinjiang as approved by the People’s Government of the Autonomous Region. According to the statistical information on sales volume before January 31, 2017, the cotton target price subsidy fund plan for various regions (states and cities) will be formulated in conjunction with the reform, agriculture, land and statistics departments. The subsidy fund allocation plan will be reviewed by the Xinjiang Cotton Target Price Reform Pilot Work Leading Group and submitted to the Autonomous Region People’s Government for approval. The Autonomous Region Finance Department will be responsible for allocating subsidy funds.
Last week (January 3-6), the purchase of seed cotton in Xinjiang has basically ended. Only individual companies have made sporadic sales. It is expected that all operations will be suspended after the middle of the year. The purchase price of seed cotton varies by region. The difference is that the price of 2128 grade seed cotton with a clothing content of 38% ranges from 6.95-7.58 yuan/kg. As cotton areas in the mainland enter the late stages of procurement, the quality and quantity of seed cotton have declined, and procurement prices have generally fallen. Anhui, Hunan and Jiangsu in the Yangtze River Basin have suspended purchasing, and most finishing companies in Hubei have also stopped purchasing. Cotton farmers sell mainly late-stage seed cotton, which has mostly stiff leaves and high moisture. The sales price is around 6 yuan/kg. The price of seed cotton in Hebei, Shandong and other provinces in the cotton areas of the Yellow River Basin has fallen. As the Chinese New Year is approaching, finishing companies are eager to withdraw funds, and their willingness to purchase is not strong. The market performance is relatively deserted. The purchase price of seed cotton with a clothing content of 38% in Hebei is 7.55 yuan/kg, a decrease of 0.05 yuan/kg from last week; the purchase price of seed cotton with a clothing content of 38% in Shandong is 7.6 yuan/kg, a decrease of 0.3 from last week. Yuan/kg.
As the Spring Festival approaches, fabric companies are not very enthusiastic about purchasing. The domestic cotton spot market transaction price is stable but falling. On January 6, China Cotton Price Index CC
Index (3128B) closed at 15,785 yuan/ton, down 13 yuan for the week. Affected by the decline in the US dollar exchange rate, international cotton prices mainly increased. On January 6, the recent ICE cotton futures contract closed at 73.99 cents/pound, an increase of 3.34 cents from before the holiday, Cotlook
The A index closed at 82.7 cents/pound, a cumulative increase of 3.3 cents.
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