The U.S. Department of Agriculture yesterday released the monthly supply and demand report showed that in 2008 China’s cotton (14160,90.00,0.64 percent, it) was expected to hit a record 7.729 million tons. As China’s domestic cotton production increased, cotton textile industry downturn, insufficient demand, the domestic cotton market to bear a very great pressure, domestic cotton prices this year continued to decline. Some market analysts believe that although the recently introduced continuous state of cotton and textile industry support policies, but short-term difficult to reverse the decline in the textile industry, the cotton market strength difficulties.

August 12, the U.S. Department of Agriculture announced the latest monthly supply and demand report predicts that China’s 2008/2009 annual cotton production will reach a record 7.729 million tons, and China National Bureau of Statistics released by the 2007/2008 year for China’s cotton output 7.6 million tons . The U.S. Department of Agriculture predicted that China’s 2008/2009 annual cotton consumption of the total 11.648 million tons, of which imports of cotton to 2.83 million tons of cotton, ending stocks to 3.471 million tons. At the same time the U.S. Department of Agriculture forecast 2008/2009 annual global cotton output to 24.42 million tons, the data than the July report lowered by 2.4 percent, mainly due to India, Australia and the United States and other countries due to production.

China is the world’s largest cotton producer and consumer countries, in the past few years China’s textile exports accompanied by the rapid growth of China’s cotton consumption continued to grow, but entered in 2008, China’s textile industry facing unprecedented difficulties, production, labor costs Growth, poor