The Xinjiang cotton harvest is rapidly drawing to a close at nearly 80 percent completion, with cotton movement active; however, this year´s crop has been disappointing in both terms of quality and quantity. More than 80 percent of the crop has fallen into Grades 3 and 4 instead of the normal Grades 2 and 3, which has resulted in PCC farms reducing seed cotton prices for T328 and lower quality this past week.

The average Xinjiang seed cotton price on October 30 was 6.0 yuan per kilogram, which was up nearly 25 percent from the average price of 4.84 yuan on the same date the previous year. By the end of the week, the average price had dropped to 5.80 yuan per kilogram, compared to the year-ago average price of 4.88 on the same date.

Source: globecotnews