Cottonseed Prices Plunge Amid Weakness in Oilseed Prices

Cottonseed Prices Plunge Amid Weakness in Oilseed Prices DATE: 2008-10-10

Following international markets, China's oilseed prices have sharply declined, leading to a collapse in cottonseed prices.  In Shanxi, a small cotton-producing province in the North China Plain, the local price of cottonseed has plunged to a record low of 1.70 yuan per kilogram, compared to the high of 3.0 yuan in recent months.  This downward price movement has impacted ginners and seed cotton values.  The average seed cotton procurement price in Shanxi has dropped to only 5.3 yuan per kilogram, while the average Grade 3 seed cotton procurement price is down to 5.62 yuan per kilogram in Jiangsu Province.  These prices are substantially below year-ago levels and have reduced profitability of the cotton crop.

 

Source: globecotnews