Hunan Province: Cotton Output Increases, Price Rises.

　　 New cotton has just appeared this year, showing a high price momentum. Today, the provincial supply and marketing cooperatives, the provincial agricultural development departments and other departments held a news conference on cotton purchasing in Changsha, announcing the news.

The cotton planting area and unit yield have increased this year. According to province Supply and marketing cooperatives Director Chen Deli said that the cotton planting area of the three main producing areas in the province is about 2 million 840 thousand mu, an increase of about 12% over last year. If there is no continuous rainy weather in the late stage, the average seed cotton output per mu will reach 275 kg, an increase of more than 10% over last year. He predicted that the province will produce 6 million 600 thousand cotton seeds, the highest level in history.

Cotton prices are running high. The purchase price per kilogram of seed cotton was 9.6 yuan to 9.8 yuan, double that of 2008. The selling price of lint per ton reached 22400 yuan, up nearly ten thousand yuan lower than last year's low position, all of which reached the highest historical value. The net income of cotton growers per mu is estimated to be around 2000 yuan, an increase of 40% over last year.

The provincial agricultural development bank has approved the highest cotton purchase for enterprises. loan The quota is 1 billion 500 million yuan, which can meet the needs of various types of acquisition entities. Zhang Songbai, vice president of the Provincial Agricultural Development Bank, said that the cotton purchase and credit work of our province this year will adhere to the principle of "purchasing, stabilizing the market, adjusting the structure and preventing risks", and actively and reliably supporting enterprises to buy Cotton in the market.

While cotton prices are rising, they are also gathering risks. Chairman of Hunan Yinhua group He Yue Gang Analysis, the current global cotton supply and demand overall balance, our province cotton enterprise processing capacity of a large surplus. The increase in cotton prices is mainly due to speculative capital. He suggested cotton farmers rationally sell cotton, rational acquisition by enterprises, and strengthen risk prevention.