What Is The Financial Pressure On Xinjiang Cotton Enterprises?

According to the cotton Logistics Association of China Cotton Association, as of the end of June, the total turnover of commodity cotton turnover in China was about 2 million 917 thousand and 400 tons, a decrease of 240 thousand and 400 tons from last month, up from 1 million 56 thousand and 400 tons in the same period last year. According to the national cotton market monitoring system survey, as of July 12th, the total sales of 4 million 623 thousand tons of cotton and 539 thousand tons decreased by July 12th, of which 3 million 773 thousand tons were sold in Xinjiang, and even 1 million 329 thousand tons of Xinjiang cotton were not sold according to Xinjiang's processing cotton 5 million 102 thousand ton. Faced with a larger inventory of commodity cotton and unsold lint, some cotton agencies and speculators believe that the total amount of cotton and cotton traders will lead to greater financial pressure in 7-8 months.

What is the pressure on the cotton enterprises in the territory? From the author's investigation, most of the cotton enterprises did not go to the situation of "breaking the wrist and making a clean job". The ability to resist risks and fall down was significantly higher than the expectations of the parties. Most cotton enterprises sold more than 80% cotton lint, and the "double knot" ginning factory was also rare.

First, the quantity of commercial cotton covered goods in the inner Treasury is large. 据统计，截至7月12日郑期仓单15517张，有效预报627张；其中疆内交割库仓单6903张，占郑期仓单总量的44.49%；二是2018/19年度中小轧花厂、贸易商“质押融资”比较活跃（一般为非农发行贷款户），有效减轻现金流压力并盘活了库存；三是部分内地大中型纺织企业预订、签购新疆棉（付订金或口头承诺），目前货权未交接也尚未发运，这部分资源未统计在销售进度中，归入商品棉周转库存；四是棉花贸易企业CF2001合约套保，运至内地交割库时间尚早（内地库大多装卸、仓储、保险等费用较疆内库高），因此减缓移库、发运；五是南疆少数棉花加工企业与农发行等协商，适度降低还贷比例或延后“双结零”日期。