Last week, the volume of cotton purchasing and storage reached a record high

The progress of China's cotton purchase and storage has been markedly accelerated during the year, and the continued decline in international cotton prices has increased the inventory of spot dealers.

According to data from China Cotton Information Network, in the week of November 1, the domestic cotton transaction volume reached 608,600 tons, which is the highest single-week transaction volume since the start of the year.

As of November 4, the cumulative turnover of 1,406,200 tons, of which 109.12 million tons in Xinjiang, the cumulative turnover of 31.50 million tons in other regions.

However, compared with the turnover of nearly 1.9 million tons in the same period of last year, this year's trading volume is still low.

Due to the new quality rating requirements imposed on the cotton put in for storage this year, coupled with the impact of the weather, the quality of cotton in certain areas is deviated, resulting in a reduction in the number of cotton that meets the storage and storage specifications.