Recently, the report of the Ministry of Agriculture and Rural China announced that in 2018/2019, China's cotton planting area was 31.87 million hectares, which was lower than the previous market expectation and was 4.9% lower than the previous year.

From the perspective of the global economy, trade frictions between China and the United States have basically successfully resolved the formation of favorable domestic and foreign cotton markets and eliminated the concerns of China's domestic market in imposing tariff increases on textile imports.

In terms of policy, in 2018, reserve cotton came out in an orderly manner, and the turnover rate continued to climb. Under the background of destocking, cotton prices were positive in the long-term. After the current round of rotation is over, the effect of the reserve of stockpiles on the price of domestic cotton in the next year will be reduced. Although the relevant policies are still unclear, the market expects that the need to increase imports in the next year will gradually increase.

According to industry insiders, the consumption of cotton in major countries such as China in 2018/19 will grow at different levels. In the future, the supply and demand imbalances will cause cotton prices to rise gradually.

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