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2022/23 Xinjiang cotton quality analysis (by Nov, 2022)

2022-12-14 08:10:46 CCFGroup

By Nov 30, 2022, ginning volumes of 2022/23 Xinjiang cotton totaled 2.5829 million tons, a fall of 26% year on year, and inspection volumes of Xinjiang cotton amounted to 1.1178 million tons, down 64% year on year. The yearly decline of ginning volumes and inspection volumes narrowed somewhat. Daily inspection volumes basically maintain at 40-45kt, and are stable to increase.

1. Color index

By end Nov, the proportion of white, grade-3 cotton and above in total 2022/23 Xinjiang cotton reached 81.9%, lower than 83.1% in end Oct, and down 4 percentage point from the same period of last year. The proportion of white, grade-2 cotton and white, grade-4 cotton was up 1.2 and 1.7 percentage point from last year.

2022/23 Xinjiang cotton color index (volume, by end Nov, KT)
	2021/22	2022/23	Yearly change
white, grade-1	4.17	3.64	-0.5
white, grade-2	234.23	96.96	-137.3
white, grade-3	2388.49	815.20	-1573.3
white, grade-4	472.33	187.76	-284.6
light spotted, grade-1	8.16	5.58	-2.6
light spotted, grade-2	12.27	6.05	-6.2
others	7.78	2.66	-5.1
whilte, grade-3 and above	2626.9	915.8	-1711.1
Total	3127.4	1117.8	-2009.6
Proportion in total	84.0%	81.9%	-2.07%
Source: China Fibre Inspection Bureau

2. Length

By end Nov, the proportion of cotton with length at 28mm and above reached 94.1%, up 3 percentage point from end Oct, but down 2.8 percentage point from the same period of last year. Proportion of cotton with length at 29mm and above was 56.5%, up 8.2 percentage point from end Oct, but down 11.2 percentage point from the same period of last year.

2022/23 Xinjiang cotton length index (volume, by end Nov, KT)
	2021/22	2022/23	Yearly change
≥30mm	504.8	109.5	-395.3
29mm	1614.4	522.4	-1092.0
28mm	912.3	420.4	-491.8
27mm	93.5	62.5	-31.0
＜27mm	2.4	3.0	0.6
length 28mm and above	3031.5	1052.3	-1979.2
Total	3127.4	1117.8	-2009.6
Proportion in total	96.9%	94.1%	-2.8%
Source: China Fibre Inspection Bureau

3. Breaking tenacity

Due to the set of indictors, the strength of 26gpt and 27gpt cannot be figured out in S3 (26.0-28.9gpt). By end Nov, cotton that can meet the demand of Zhengzhou Commodity Exchange on strength reached 98.8%, down 0.4 percentage point from end Oct, but up 0.45 percentage point from the same period of last year. By end Nov, the proportion of cotton with strength at 29gpt and above was 49.53%, up 5.9 percentage point from end Oct, up 2.9 percentage point from last year.

2022/23 Xinjiang cotton breaking tenacity (volume, by end Nov, KT)
	2021/22	2022/23	Yearly change
S1	206.2	110.5	-95.6
S2	1251.9	443.1	-808.8
S3	1618.8	551.2	-1067.6
S4	50.1	12.9	-37.2
S5	0.4	0.0	-0.4
S3 and above	3076.9	1104.9	-1972.0
Total	3127.4	1117.8	-2009.6
Proportion in total	98.4%	98.8%	0.45%
Source: China Fibre Inspection Bureau

4. Length uniformity

By end Nov, for length uniformity, proportion of cotton that can meet the demand of Zhengzhou Commodity Exchange reached 98.4%, down 0.61 percentage point from last year.

2022/23 Xinjiang cotton length uniformity (volume, by end Nov, KT)
	2021/22	2022/23	Yearly change
U1	0.7	0.3	-0.4
U2	1045.1	311.3	-733.7
U3	2051.5	788.7	-1262.8
U4	30.1	17.5	-12.6
U5	0.1	0.1	0.0
U3 and above	3097.2	1100.3	-1996.9
Total	3127.4	1117.8	-2009.6
Proportion in total	99.0%	98.4%	-0.61%
Source: China Fibre Inspection Bureau

5. Micronaire

By end Nov, for Micronaire, proportion of cotton that can meet the demand of Zhengzhou Commodity Exchange reached 84.55%, up 14.65 percentage point from end Oct and up 1.6 percentage point from last year.

2022/23 Xinjiang cotton micronaire (volume, by end Nov, KT)
	2021/22	2022/23	Yearly change
A, 3.7～4.2	286.1	72.4	-213.7
B1, 3.5～3.6	9.9	0.8	-9.1
B2, 4.3～4.9	2299.2	872.0	-1427.3
C1, ≤3.4	3.5	0.2	-3.3
C2, ≥5.0	528.7	172.5	-356.2
A+B	2595.3	945.2	-1650.1
Total	3127.4	1117.8	-2009.6
Proportion in total	83.0%	84.6%	1.6%
Source: China Fibre Inspection Bureau

6. Ginning quality

By end Nov, proportion of cotton that can meet the demand of Zhengzhou Commodity Exchange approached 99.8%, up 0.29 percentage point from last year.

2022/23 Xinjiang cotton ginning quality (volume, by end Nov, KT)
	2021/22	2022/23	Yearly change
P1	11.6	10.9	-0.6
P2	3099.5	1104.7	-1994.8
P3	15.2	2.2	-13.0
P1+P2	3111.1	1115.6	-1995.4
Total	3126.3	1117.8	-2008.4
Proportion in total	99.5%	99.8%	0.29%
Source: China Fibre Inspection Bureau

Conclusion

New cotton inspection speed is slow impacted by the epidemic, which cannot be analyzed well on the cotton quality from the volumes, and the quality is mainly analyzed from the proportion. In Nov, the proportion of cotton with white, grade-one declines compared with Oct, but in terms of length, strength and micronaire, the proportion climbs up.

By end Nov, 2022/23 cotton that can meet the demand of Zhengzhou Commodity Exchange takes a share of 81.9%, which is mainly dragged down by the color index, but still up 12 percentage point from end Oct. Proportion of cotton with length at 29mm and strength at 29gpt and above is 49.53%, up 5.9 percentage point from end Oct, up 2.9 percentage point from last year, but proportion of length at 29mm is 56.5%, down 11.2 percentage point from the same period of last year.

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