According to the National Bureau of statistics, in 2007, the total output of cotton in China was 7 million 600 thousand tons.

By June 2008, the total import of cotton was 2 million 40 thousand tons, an increase of 14% over the same period last year. The growth rate of textile production and export slowed down, and the yarn output increased by 17 million 620 thousand tons, an increase of 12% compared with the same period last year. Textile and garment exports totaled 143 billion 900 million US dollars, up 14% over the same period last year.

Domestic cotton market prices remained basically stable, and the annual average selling price of standard cotton was 13676 yuan / ton, up 4.6% over the same period last year.

Affected by tight monetary policy, appreciation of the renminbi, rising production costs and reduced export tax rebates, most cotton textile enterprises are facing unprecedented difficulties and the industrial situation is grim.

In June, the state raised the deposit reserve rate again and raised the price of oil, electricity and railway pportation, and the operation of textile enterprises was more difficult.

With the end of the year, the pressure on repayment of loans by cotton enterprises increased, inventory cost increased, sales refunds were difficult, buyers and sellers were in a predicament, cotton market was slack, and prices continued to be weak.

Zhengzhou cotton futures prices and the national cotton trading market electronic matching prices continued to fall, creating a new low.

The international cotton price has rebounded and the advantage of foreign cotton has been lost.

In June, the number of imported cotton continued to decrease, and the average import price rose by 26% over the same period, a record high for eighth consecutive months.

Textile and garment exports continued to grow, down from the same period last year, and clothing exports hit the lowest growth rate since 2008.

According to the China cotton association investigation and expert consultation analysis, the cotton planting area is 88 million 160 thousand mu this year, and the same caliber is basically the same as last year.

Since the spring sowing this year, the temperature is basically normal and the rain is abundant. The overall meteorological conditions are basically suitable for cotton growth and development.

However, due to some cotton affected areas, the growth and development of cotton in different regions were unbalanced, and the whole country was weak and late, which was slightly worse than the same period last year. The growth period was postponed for 7-10 days, and the area of Verticillium wilt also increased.

In June, the meteorological conditions in most parts of Xinjiang and the Yellow River River cotton regions were good, which was beneficial to bud buds and flowering of cotton. In some areas, though rainy days were more frequent, the rainfall at night was the main factor, and had little effect on cotton buds.

There are more rainy days and less weather in the Yangtze River Basin, and some areas are suffering from rainstorm and flood, which is not conducive to cotton growth and development.

July and August is a critical period for the formation of output. According to the forecast of the Central Meteorological Observatory, there is still plenty of rain in recent years. If light and temperature conditions are suitable and field management is strengthened, there is still room for room for cotton production.

With the determination of the subsidy policy for the relocation of Xinjiang's cotton, the number of wagons pported to the mainland has increased significantly, and domestic cotton resources are still abundant in the near future.

According to the analysis of relevant state departments, the current economic development situation in China is rather complicated. Under the influence of continuous inflation, the price level is running at a high level, and the negative effects will gradually appear, and some enterprises' profits will continue to slide.

In the second half of this year, the global economic growth rate continued to slow down. It is expected that the weakening of external demand will affect China's export growth. Textile production and exports are not optimistic, and domestic cotton demand will continue to run weakens.