Textile and clothing consumption continues to slump, short-term cotton wait and see mainly_Sina Finance_Sina.com

Source: Cinda Futures Author: Cinda Futures

Research report text

position advice

【white sugar】

At present, beet sugar production is in the late stage. Except for one sugar factory waiting to start up, other sugar factories have been shut down one after another; cane sugar factories have started pressing one after another. According to statistics from the China Sugar Association, as of the end of November, the country produced a total of 850,000 tons of sugar in 2022/23, an increase of 90,000 tons over the same period of the previous year; A decrease of 4 percentage points over the same period. In November, the temperature in the first half of Guangxi was high and the rainfall continued to be low, which affected the growth of sugarcane. The plant height was lower than normal, but it was conducive to the conversion and accumulation of sugar in sugarcane. The rainy weather in the second half of the month promoted the growth of sugarcane. The recent domestic optimization and adjustment of the new crown pneumonia epidemic prevention and control policy is beneficial to sugarcane harvesting, transportation, sugar production and export, and sugar consumption. In the future, we need to continue to pay attention to the weather in major sugar producing areas such as Guangxi and Yunnan, sugar cane cutting and transportation, sugar processing, and sugar purchase and sales during the traditional peak consumption season of the Spring Festival.

【cotton】

The 2022/23 cotton harvest is basically complete, and processing and sales are slow. As of December 1, the national new cotton processing rate and sales rate were 48.5% and 8.1%, respectively, a year-on-year decrease of 19.9 and 1.4 percentage points. Global economic growth is facing multiple unfavorable factors, textile and clothing consumption continues to slump, and the weak downstream orders are difficult to reverse in the short term. Short-term wait and see.

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