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Implementation Details And Related Interpretation Of New Cotton Rotation In 2019

2019/12/2 12:55:00 0

New Territories Cotton Rotation Rules 2019

Implementation details of New Territories cotton rotation in 2019

general provisions
Article 1 according to the third announcement of the State Grain and material reserve bureau and the Ministry of Finance in 2019 and the relevant provisions of the central reserve cotton management, the China Grain Reserve Management Group Co., Ltd. specially formulated the implementation details.
The second annual entry date for new territories cotton in 2019 is the national statutory working day from December 2, 2019 to March 31, 2020. The introduced varieties are produced in 2019/20 and have been included in the sawtooth cotton with professional supervision of Xinjiang cotton.
The third China Grain Reserve Management Group Co., Ltd. authorized the China Cotton Reserve Management Co., Ltd. (hereinafter referred to as the central storage cotton company) to carry out the specific implementation, through the national cotton trading market (hereinafter referred to as the trading market) listing, open bidding transactions.
The fourth central storage cotton companies (buyers) and their directly affiliated enterprises, storage enterprises (sellers), reserve cotton storage warehouses, storage cotton notarization inspection and inspection institutions and other relevant parties must abide by the detailed rules.

The second chapter is round trading and price.
The fifth enterprises to participate in the incoming transaction of Xinjiang cotton must meet the following requirements:
1. an enterprise legal person registered by the market supervision department.
2. having the general taxpayer qualification and issuing VAT invoices.
3. no unfinished disposal involves cotton reserve transaction disputes and transaction remaining problems.
The sixth transaction market joint storage cotton company to audit the qualification of the participating storage enterprises, and the result of the audit is informed by the transaction market about the storage enterprises. A storage enterprise must enter the trading market only after it becomes a dealer in the trading market.
Seventh according to the provisions of the relevant state departments, the China Cotton Storage Company and the China cotton information network jointly announce the maximum bid price through the China cotton net and the China cotton information network. The maximum price of the bid price is the maximum price of the warehouse entering the warehouse, which is adjusted weekly. The price will be released next Sunday.
The eighth quotations for cotton trade are 3128B grade sawtooth cotton, the length is U3, the breaking strength is S3, the quality of the mill is P2, and the heterosexual fiber content is L. The actual payment is actually settled according to the notarial inspection results.
Ninth on the morning of each trading day, the China Cotton Storage Company published the detailed information on the day's listing, including delivery warehouses, quantity, procurement ceiling price and so on. The transaction is organized by the market and the transaction is done at the lowest price. It is implemented in accordance with the detailed rules for new round cotton auction in 2019.
After the transaction, the daily price of the transaction is unified by the market through the China cotton information network and the China cotton net.
The tenth trading market generates the central reserve cotton procurement contract according to the results of the bidding transaction. The storage and storage enterprise must sign the contract within 3 working days after the transaction, and submit the information of the storage and storage batches as an attachment to the trading market. The trading market confirms that the batch is the contract for the cotton supervised by the professional warehouse in Xinjiang.
Article eleventh according to the regulations of the relevant state departments, when the domestic cotton price is higher than the international cotton price (1% tariff) 800 yuan / ton for 3 consecutive working days, it will suspend trading in the fourth working days. When the price difference between domestic cotton and the international cotton price falls to 800 yuan / ton, it will restart the round turn trading on the first working day back.
The central storage cotton information center of the central storage cotton company is responsible for tracking the difference between inside and outside cotton prices in the same market as the unit concerned, and announces that the cotton price difference between the first and the last working days is announced by the China cotton net and the China cotton information network before the 10:00 working day of each working day.
Twelfth rounds of transactions, the implementation of performance bond and quality margin system. A storage enterprise must deposit a certain amount of deposit in the trading market before trading. According to the transaction situation, the trading market will be deducted in real time according to the 500 yuan per ton, of which 400 yuan will be kept as the performance bond, and 100 yuan will be taken as the cotton quality margin.
The performance bond is used to guarantee the performance of the storage and delivery enterprise on schedule. The cotton quality margin is used during the storage period to ensure the quality of the cotton and the packaging meet the requirements, and when necessary, it will be used for the two settlement of cotton.

The third chapter is quality and packaging requirements.
Thirteenth rounds of cotton quality requirements
The quality requirements of each batch of cotton for storage are as follows:
1. the proportion of white cotton grade 1, 2 and 3 is not less than 80%, and does not contain 5 grades of white cotton, 3 grade of spotted cotton, yellow cotton and yellow cotton.
2. the ratio of length to 28 millimeters and above should not be less than 90%, and does not contain less than 27 millimeters.
3. micron value level is required for class A, B level not less than 90%, and does not contain C1 files.
4. the length uniformity index is U3 (medium) and above, the proportion of not less than 90%, and does not contain U5 files (very low);
5. the fracture strength is S3 (medium) and above, the ratio is not less than 90%, and does not contain S5 gear (very poor).
6. the quality requirement of rolling mill is medium and above.
7. the number of foreign fibers found in a single batch was not more than 2.
8. the moisture regain of single bag is less than 10%.
9. other quality requirements are carried out according to relevant national standards.
The fourteenth round of cotton packing requires cotton strapping. Packaging materials and strapping materials must conform to the GB 6975-2013 national standard of cotton packaging, GH/T 1068-2010, "cotton packing polyester strapping belt" and other provisions. The same batch of sub cotton bags should be packaged and strapped together with the same product produced by the same manufacturer. The shape and size of the cotton bales should conform to the GB 6975-2013 "cotton packaging" national standard for type I package, and the net weight of the single package is 227 kg (tolerance range is + 10 kg). The cotton barcode bar is fixed at both ends of the cotton bag. According to the packaging label requirements of the "GB 1103.1-2012", the brushing marks should be clearly marked at the two sides of the cotton bales, including cotton producing area, cotton processing unit, batch number, package number, gross weight, code name of heterosexual fiber content, production date and so on. The contents should be complete and the handwriting should be clear.
Fifteenth rounds of cotton in principle, each batch of 186 bags or 93 packages, 186 packets of not less than 170 packages, 93 packets of batches of not less than 85 packages. Cotton with different picking methods should be divided into groups. Cotton batch number rules are implemented according to relevant regulations of the state.

The fourth chapter is initial inspection.
The sixteenth warehousing enterprises shall, within 45 days after signing the contract, deliver the cotton to the agreed warehouse.
According to the central cotton reserve contract, the Seventeenth Central Storage cotton company issued the pre admission notice to the relevant storage warehouse. The storage storehouse should be well prepared for warehousing.
Eighteenth, after signing the central reserve cotton procurement contract, the storage and storage enterprises need to contact the warehouses in a timely manner, submit the "Declaration Form for storing certificates" (paper and electronic version), "bar code summary sheet" (electronic version), which is consistent with the batch information of the contract annex, and send it to the warehouse for examination. When the cotton is in storage, it will be supplied with the same package and binding material as the cotton packing material.
Nineteenth storage warehouses should check the contract numbers issued by the central storage cotton company and the information about the storage and storage batch, and check the materials provided by the storage and storage enterprises, and inform the storage enterprises in a timely manner. The approved storage plan shall be notified and delivered to the storage warehouse at the specified time. The storage and delivery enterprises should deliver their products in accordance with the contract. Before the shipment of cotton, they should go through the China cotton net or e cotton warehouse to register the "reserve cotton wheels into the self-service platform" for booking registration, so as to facilitate the storage and warehousing coordination inspection institutions to do the notarization inspection.
The twentieth warehouses are responsible for initial warehousing. Before receiving the warehouses, the warehouses should check whether the approved batches of cotton batches have passed the examination, whether the sealing of the train carriages is intact, whether the vehicle transport vehicles are covered tightly, and whether the cotton packing meets the requirements. Where the batch information, appearance and packaging of cotton do not conform to the relevant provisions of the detailed rules for implementation, they shall not be accepted.
If the transport vehicles are not covered by the regulations, they must be covered in accordance with the regulations, and they can be put into storage and unloading after observing for 24 hours outside the warehouse.
Twenty-first cotton that meets the requirements for warehousing is checked and arranged by the storage storehouse, and the vehicle is arranged for unloading and inspection. Fill out the "discharge record form" and "Registration Form for entering the storage information", check whether the bar code and shipping mark are clear, whether the proportion of cotton bales is more than the regulations, whether there is contamination of mildew and damaged cotton bags, etc.
Article twenty-second if the whole batch withdraws from one of the following cases found in the preliminary inspection of a storage warehouse, it shall not be accepted.
(1) the number of cotton bales is more than 10% of the total number of packages.
(2) the storage of cotton is not in conformity with the "Declaration Form for import and export Notarization" or the annex of the contract.
(3) more than 3% of the batches of cotton bags with pollution, mildew, water and rain.
(4) mixed with cotton and cotton.
(5) packaging materials do not meet the cotton packing standard;
(6) no barcode or barcode is incomplete, shedding or missing more than 5% single batches.
(7) there is no sampling cut on the cotton bag.
(8) there are two stitches or barcode replacement marks on cotton bags.
(9) warehousing of cotton exceeds the time limit stipulated in the contract.
Twenty-third, if one of the following circumstances is found in the preliminary inspection of a storage warehouse, the problem can be removed and verified according to the actual weight after being removed.
(1) the net weight of single cotton is over standard.
(2) the cotton batches of pollution, mildew, water and rain were below 3%.
(3) no barcode or barcode is incomplete, shedding or missing, with a single batches of less than 5%.
The number of twenty-fourth warehousing cotton white bags can not be more than 10% of the total number of packages, and can be put into storage. The warehouse is responsible for sorting out, and the storage enterprises are responsible for sorting out the expenses.
In the twenty-fifth preliminary inspection process, the storage warehouses found that there were fraudulent and serious quality problems in the storage and storage of cotton. They should be promptly reflected to the resident inspection institutions, while the cotton enterprises should be stopped for storage and timely report to the central storage cotton company. The central storage cotton company notifies the relevant departments of the state that the relevant departments are responsible for organizing the verification, and is verified to be punished according to law according to the law. The central storage cotton company has notified the trading market to cancel the qualification of the enterprise.
The twenty-sixth warehouses can carry out the whole process of loading and unloading of the warehouses. The responsibility for the broken bags, collapsing bags and fried bags caused by rough loading and unloading of the storehouses will be borne by the warehouse.
Twenty-seventh each contract must not be mixed with other batches of cotton bags in the actual storage and storage batch. It is found that the batches of mixed batches should be removed from the warehouse when the initial storage is in storage.
The twenty-eighth "filling cotton initial check in" list is the basis for the registration of cotton reserves and the effectiveness of reserve cotton property insurance.
After twenty-ninth warehouses are put into storage, the warehouse should be inspected continuously for 72 hours to ensure safety.
Thirtieth cotton that has already filled in the "reserve cotton initial check list" has not received the outgoing procedures of "unqualified cotton out of warehouse list", "abnormal cotton output list" or "reserve cotton out warehouse list" issued by the central storage cotton company.
Thirty-first cotton that fails to meet the requirements of import and storage and fails to meet the requirements for storage during the initial inspection period shall not be reported to the original inspection. The warehouse shall be sent to the representative of the storage enterprise for signature and confirmation, and the warehousing enterprise shall be notified of the disposition of the cotton. The warehouse should fill in the "report on abnormal conditions" and report it to the storage cotton company. The warehouses which have not moved to the warehouse within the prescribed time limit for storage warehouses shall sign a contract for the custody of the warehouses and take timely insurance, and make clear responsibilities.

The fifth chapter is notarization inspection.
The thirty-second cotton that is professionally supervised and notarized tested in the central storage cotton Xinjiang storage warehouse can be stored in the storehouse, and it can no longer be publicly checked. After being confirmed by the China fiber quality monitoring center, the cotton will be settled according to the results of the regulatory cotton notarization test.
The thirty-third central storage cotton company will inform the China fiber quality monitoring center in advance that it intends to turn into the storage warehouse, and the Chinese fiber quality monitoring center shall arrange the inspection institution to undertake the notarization inspection at the warehouse.
The thirty-fourth entry notarization inspection adopts the way of spot sampling and packet inspection. The weight and quality results of the notarization test are the basis of whether the cotton provided by the storage enterprise meets the quality requirements and the settlement of the goods.
The thirty-fifth China Quality Inspection Center designated by the Chinese fiber quality monitoring center should contact and connect with the storage warehouse in time. The warehouses will submit the declaration forms for inspection of import and export notarization, bar code summary, packaging materials, etc., and make reasonable arrangements for the workplaces according to the strength of inspection, and provide necessary preparations for weighing, loading and unloading, re loading and data transmission to meet the needs of on-site operations and notarization inspection, so as to cooperate with notarization inspection.
Thirty-sixth storage warehouses are responsible for the quantity and quality of cotton in storage. It includes checking the warehousing weight, ensuring that every packet of cotton must be sampled at the scene, coordinating with the inspection authority to check whether there is a change mark in the cotton bag, and opening the package to check the abnormal cotton bag when necessary, so as to ensure the quality of the cotton stored and stored meets the requirements as far as possible. If abnormal findings are found, the inspection institutions shall be notified to stop the abnormal batches and report the cotton storage companies in time.
If thirty-seventh pieces of live samples are to be cut and opened, they should be carried out from the nearest location of the original sample cutting edge. In principle, the number of strapping bands should not be more than 1. It is forbidden to cut strapping bands at either ends of cotton bags or at any position at random, and prohibit increasing the number of strapping belts at will without the permission of the personnel at the warehouse, otherwise the consequences will be borne by the inspection authority.
After the opening of the public inspection, the cotton bags must be re wrapped before stacking.
The thirty-eighth inspection institutions shall, within 10 days after the on-site sample cutting, issue the certificate of notarization of stored cotton, carry out the notarization examination of the electronic certificates to the warehouses, and make written handover. Meanwhile, the notarial inspection results shall be reported to the China fiber quality monitoring center data system. China fiber quality monitoring center has unified inspection data in the form of electronic data interface.
Confirmation of thirty-ninth notarial inspection results
1. the storage warehouse must be confirmed according to the notarial inspection certificate issued by the inspection institution. If there is any objection to the notarial inspection results, it is reported that the stored cotton company should apply for reexamination within 2 days, otherwise it will be deemed to agree with the test results.
2. the warehouse shall be notified within 1 days after receiving the notarization certificate of stored cotton to confirm the inspection result. If a storage enterprise has any objection to the notarization test result, it shall submit a reexamination application to the trading market within 2 days after receiving the result. The first instance of the transaction market meets the requirements of the application, and is submitted to the China fiber quality monitoring center. The designated inspection agency of the China fiber quality monitoring center reexamines the applicant according to the application item. After reexamination, the original inspection results shall be maintained, and the cost of inspection, such as transfer and inspection, shall be borne by the applicant.
According to the notarial inspection results, the fortieth cotton storage companies issued the "reserve cotton entry notice" issued by the cotton that meets the requirements for storage. If the cotton fails to meet the requirements for storage, the storage warehouse will be issued under the "unqualified cotton outlet list", and the warehouse shall be notified to the storage enterprise to leave the warehouse.
After receiving the notice of reserve cotton storage, the forty-first warehouses have to check whether the notarization test results of the stored cotton are confirmed by the storehouse and the storage enterprises. We have confirmed that through the main business system, we will fill in the "storage cotton storage list" and report it to them.
The forty-second cotton that has been filled in the "reserve cotton storage list" has not received the warehousing procedures of the "reserve cotton export list" or "abnormal cotton output list" and so on. Under no circumstances can a storage warehouse be allowed to borrow or store cotton without authorization.
The forty-third is for the cotton that the results of the public inspection results do not meet the requirements for storage and purchase. After receiving the notice from the warehouse, the storage enterprises should deal with the cotton themselves. The storage and storage enterprises that fail to move the warehouse within the prescribed time limit for warehousing and warehousing shall sign a contract for the generation of warehouses and take timely insurance and clarify responsibilities.
After the completion of the inspection by the forty-fourth inspection institutions, the cotton samples shall be returned to the warehouse for storage according to the batch preparation except for consumption for reinspection purposes. The storage warehouse should be kept in accordance with the unified requirements of the central storage cotton company. Until the sale of the cotton is sold out, it will be disposed of according to the requirements of the central storage cotton company.
During the forty-fifth rounds, the central storage cotton company and the storage warehouse can be randomly sampled and sent to the warehouse according to the need. If the test results are different from the results of the inspection institutes, the China cotton storage company can apply to the China fiber quality monitoring center to arrange for the re examination of some or all of the cotton. If the difference between the re inspection results is greater than the tolerance, the original procuratorial organ shall be investigated for the responsibility. If the company has settled accounts with the storage and storage enterprises, the central storage cotton company will, based on the re examination results and the two settlement of the storage and storage enterprises, give priority to the performance bond and quality margin from the storage enterprises, and the storage enterprises must cooperate with each other. The standard of tolerance is stipulated separately by the China fiber quality monitoring center of China Cotton store company.

Sixth chapter payment settlement and margin release
The forty-sixth central storage cotton company has received the check and registration of the reserve cotton storage list. According to the notarial inspection data provided by the China fiber quality monitoring center, the "reserve cotton storage settlement statement" has been generated.
Forty-seventh storage and storage of cotton color level, length, micron level, fracture strength, length uniformity, the difference between the quality of rolling mill according to the China Cotton Association December 2019 quality difference price table, the payment is calculated as a package.
The forty-eighth "reserve cotton warehousing settlement statement" is released through the China cotton net and e cotton warehouse "the storage cotton wheel into the self-service platform", and the storage enterprises will go to China's cotton net or e cotton warehouse to inquire, download and print their own products.
According to the sum and requirements of the "reserve cotton settlement statement", the forty-ninth storage and storage enterprises issue special invoices for value-added tax, and send the invoices to the central storage cotton company.
If the fiftieth storage enterprises have loans in the local agricultural development bank, they should provide the information of the agricultural development bank account to the Central Cotton Storage Company for the settlement of the loan. The loss arising from the failure to provide the correct account and the payment of the goods will be borne by the storage enterprise.
Fifty-first release margin
1. performance bond. After passing the notarization certificate, the China Cotton Storage Company will notify the trading market to release the performance bond according to the "reserve cotton storage list".
2. cotton quality margin. At the end of the purchase of cotton reserves, for example, if there is no serious blow up bag in the cotton bag (that is, less than 3% of the bursting bag after stacking), according to the "reserve cotton storage list", the China storage cotton company will deduct the finishing expenses of collapse, bag and pollute mouldy cotton bags during the initial inspection, and will be released within 90 days after the warehousing is completed. In Xinjiang, the cotton that needs to be transferred to the repository will be sent to the warehouse in the mainland and released after deducting the cost of the package.
The warehouse should be pre confirmed with the storage and storage enterprises. The standard of the cost of repack is: 50 yuan / bag, and the collapse of the cotton stacks is 20 yuan / ton, and the pollution is 25 yuan / dry. The bag is mended 10 yuan / bag.
If there is a serious bursting and bursting of cotton bags after stacking, if the proportion of bursting bags exceeds 3% (inclusive), the cotton quality margin will be deducted and not released.
In the fifty-second preliminary inspection, notarization inspection and so on, the import, export and storage fees, storage fees, the fees for public inspection, and the cost of moving the goods that do not meet the requirements of import and storage are charged to the storage and storage enterprises by the warehouse. The charging standard is: 20 yuan / ton for entering (out) warehouse, and 0.27 yuan / ton for storage fee, 40 yuan / ton for warehousing inspection fee and 20 yuan / ton for stacking.

The seventh chapter is liability for breach of contract.
The fifty-third one of the following situations is to pay the storage enterprises, and deduct all the performance bonds according to the performance breach.
1. due to the fact that dealers in the storage and storage enterprises can not provide information on the storage of cotton batches to the trading market within a specified time limit, the central reserve cotton procurement contract can not be signed and fulfilled within 3 working days after the transaction.
2. the batch information submitted to the trading market is inconsistent with the information on the final storage and storage of cotton.
3. failing to deliver the storage and delivery of cotton to the designated warehouses at the appointed time for the initial inspection and storage. The reason for the default of the storage and storage enterprise is the loss from the storage warehouse compensation to the storage enterprise.
4. cotton quality is adulterant and fraudulent.
5. failing to deliver the quantity stipulated in the contract for the purchase and sale of cotton reserves, the actual amount of storage per contract is less than 15% of the contract amount.
6. other serious violations of these measures and relevant provisions.
Fifty-fourth storage and storage enterprises such as changing the packaging, changing the shipping marks or removing the bags and re processing the lint are used for storage. Once discovered, the central storage cotton company will notify the trading market immediately to cancel the qualification of their storage, and notify the relevant departments of the state to deal with them according to law.
In the course of the fifty-fifth rounds, if the quality and quantity of the cotton provided by the storage enterprises do not conform to the stipulated storage conditions, whether the cotton has been transported to the designated warehouse of the central storage cotton company, the expenses incurred and all the responsibilities incurred shall be borne by the storage and storage enterprise.
After the fifty-sixth special value-added tax invoices issued by the storage enterprises are sent or cancelled, they must be approved by the cotton store company. Otherwise, the reserve cotton company will suspend the qualification of its storage and undertake the corresponding loss from the storage and storage enterprises.
The fifty-seventh round of cotton quality is responsible for the lifetime of the processing enterprises, and the total responsibility of the storage enterprises is the responsibility. In the process of warehousing, storage and outgoing storage, if there are serious problems that are not found in the quality of the cotton, if necessary, the cotton storage company will be submitted to the relevant state departments for investigation and treatment with the China fiber quality monitoring center, and the storage enterprises must bear the corresponding economic and legal responsibilities. It is verified that the reserve cotton company will cancel the processing and storage qualification of the processing enterprises, and notify the trading market to suspend the transaction qualification of the reserve cotton reserve enterprises until the storage enterprises have fully compensated the loss of the storage cotton company.

Eighth chapter supplementary provisions
The fifty-eighth trading market and China fiber quality monitoring center, in accordance with the announcement of the State Grain and material reserve bureau and the Ministry of Finance (No. third 2019), respectively formulated the 2019 annual rules for New Zealand's cotton auction and the implementation of 2019 rounds of notarization inspection of Xinjiang cotton.
The business hours involved in the fifty-ninth detailed rules are applicable under normal circumstances. In case of exceptional circumstances, the business deadline can be adjusted appropriately according to the actual situation.
In the implementation of the sixtieth detailed rules for implementation, if there are special circumstances, the central storage cotton company will separately stipulate the relevant units.
The sixty-first detailed rules for implementation are referred to the relevant provisions.
The sixty-second detailed rules for implementation are explained by the central storage cotton company.
The sixty-third detailed rules for implementation will come into force on December 1, 2019.

Interpretation of New Territories cotton rotation rules in 2019

In December 2nd, Xinjiang cotton rotation will be officially launched in 2019. What are the new changes in cotton reserves this year? How to use the opportunity to manage the market risk of enterprises in the market downturn? How can the storage and transportation enterprises take fewer detours to increase the success rate and efficiency of storage? China cotton net interviewed the responsible persons of the relevant units, and interpreted the key points of the announcement and rules for your reference.

What are the highlights of the round of entry policy this year?

The new cotton rotation was first launched after six years of temporary purchase and storage, which has changed significantly over the past few years. First, the purpose of entry is different. The third announcement of the State Grain and material reserve bureau and the Ministry of Finance in 2019 showed that the main purpose of this new cotton rotation is to "strengthen the management of central reserve cotton, further optimize the reserve structure and improve the quality of reserves". The notice also pointed out that "in the process of Xinjiang cotton rotation, such as the domestic and foreign cotton market has undergone major changes, according to the needs of market regulation and control, the State Grain and material reserve bureau will make necessary adjustments to the rotation arrangements with other departments". This is exactly the same as the 4 round announcement this year. In the domestic cotton market continued to slump, and even once with the international market price upside down, the right amount of new cotton imports, is conducive to the optimization of reserve stocks, but also to a certain extent, ease the pressure on the domestic spot market. The announcement indicates that the relevant departments of the state do not want to enter the new territories cotton to affect the normal operation of the market, and will also pay special attention to the major changes in the domestic and foreign markets during the round of entry. Therefore, it is especially pointed out that the possibility of policy adjustment is necessary.

The two is the first adoption of the market pricing mechanism in the round. This round of entry does not impose a fixed price (that is, what some people call the "bottom price"). Instead, it adopts the pricing method of setting up the maximum price and downward bidding according to the market price. Referring to the two index average price representing the spot price of domestic cotton as the market price, it is more credible. On the one hand, on the one hand, the floating ratio should be considered to reserve the right amount of bidding space for the storage and storage enterprises. At the same time, the necessary transportation cost to the designated storage warehouse is also considered, which is similar to the premium of Xinjiang cotton to the futures delivery warehouse in the mainland.

The three is the fusing mechanism for the first time in rotation. In order to avoid the irrational rise of domestic cotton prices and weaken the international competitiveness of domestic textile enterprises, this round has specially designed a fusing mechanism with international market prices. With the difference of 800 yuan / ton between inside and outside cotton price as the condition of automatic fusing, the flexibility of policy and market linkage has been greatly enhanced. This is also the biggest highlight of this round of policy design.

How to understand gross and daily listing volume

According to the announcement of the State Bureau of grain and material reserve, the total volume of this round is about 500 thousand tons, and the daily sale is about 7000 tons. It can be understood from three aspects. The first is the total volume of 500 thousand tons of gross imports. In the past year, when the inventory is more abundant, the trend of import quotas is relaxed and the consumption of industrial back-end is temporarily slowed down, it can relieve the pressure of oversupply, but it will not have a huge impact on the balance of supply and demand in the domestic market. The two is the balanced listing mechanism of about 7000 tons per day, which is not only an important measure to avoid the excessive interference of the market, but also helps to balance the storage in order to reduce the queuing time of the enterprises in the storage. It can be popularly understood that in the 4 months of the turn in, the daily storage of cotton is quantitatively listed and purchased. Third, according to this mechanism, the total amount and the daily listing amount are only plans, and the final number of transactions will depend on the trade-off between the comprehensive judgement of the storage enterprises and the marketing strategy of their own. It is clear that the state will not compete with the market for resources. If the listing is not traded, it is clear that the market does not need to enter the "sales channel", and the relevant departments will not "impose difficulties" to interfere with the market. The central storage cotton company will comply with the requirements of the announcement, and will have a balanced listing of 7000 tons per trading day. Therefore, the storage and storage enterprises, especially those with high sales pressure, should rationally and comprehensively judge the market situation. According to the actual situation of the enterprises, we should reasonably plan the sales strategy and storage rhythm.

The specific conditions for suspending or restarting transactions in the FX trading mechanism

The eleventh provision of the implementation rules of the new territories cotton in 2019 provides that when the domestic cotton price is higher than the international cotton price for 800 consecutive consecutive 3 working days, it will suspend trading on the fourth working day. When the price difference between domestic cotton and the international cotton price falls to 800 yuan / ton, the transaction will be restarted on the first working day after the fall. All mentioned above are working days, and I hope that all parties will avoid confusion when doing statistical calculations.

According to the detailed rules and bidding rules, the China Cotton Storage Company and the trading market will announce the difference between domestic and foreign prices on the morning of each working day. If the trading conditions are met on the same day, the delivery warehouse and quantity will be announced at the same time. The opening time is 3 p.m. for each trading day.

The quality requirements of incoming cotton are stricter, so how can enterprises avoid the storage after the transaction?

In order to ensure the ability of regulation and control, the state has higher requirements for the quality of central cotton reserves, and the requirements of the quality indicators and exclusionary stipulations of cotton are clearly stipulated in this round. There are also some discussions on the public inspection of the warehouse. It is feared that the difference between the results of the Treasury test and the expected results will lead to the failure to save or even default.

It should be noted that the public inspection of stored cotton is the statutory inspection stipulated in the regulations on cotton quality supervision and administration, and is also a necessary link to ensure the quality of cotton reserves.

How can we avoid the risk of storage after the transaction? First of all, the enterprise should have a warehouse with the imported regulatory database and meet the storage requirements before it is filming, because once the transaction is completed, it is necessary to submit the batch information within 3 days as the annex of the contract, and the contract can be concluded after the confirmation of the transaction market. Second, we must have a basic judgement on the quality index of the cotton submitted to the batches. If we are not sure, we should not rush the auction, because once the contract is signed, the batch can not be changed. Third, for batches of cotton bags which do not meet the requirements of import and export, they can be removed first and shipped again. The implementation details give special consideration to the actual situation of the cotton imported into the Xinjiang regulatory warehouse. The minimum permissible allowance for the 186 package is not less than 170 packages, and the 93 package is not less than 85 packages. Fourth, if the newly processed cotton is released after the implementation of the rules, it is suggested that the enterprises should pick up the package group after entering the storage requirements and then re-enter the regulatory repository.

This round of entry has special precautionary measures against fraud in cotton quality. The situation of maliciously doped false cotton will be dealt with according to relevant regulations according to relevant regulations. It is hoped that individual businesses should not be lucky enough to test the law.

How did the relevant units consider the practical difficulties of the storage enterprises in this round?

First, considering that Xinjiang cotton has entered Xinjiang's professional supervision warehouse before delivery, it will take time to deliver it to the container depot and is affected by the transport capacity conditions. In this round of implementation details, the delivery time has been extended. The sixteenth and fifty-third implementing rules and the contract for the purchase of the central cotton reserve have agreed that the warehousing enterprises shall deliver cotton to the delivery warehouse and complete the preliminary inspection within 45 days after the signing of the contract. In fact, since the signing of the contract requires delivery of the delivery lot information, it can not be changed after submission, and the storage enterprise only needs to arrange the shipment immediately after signing the contract.

Two is the first time to allow batches of cotton bags that do not meet the requirements of storage can be directly removed, according to the actual weight of cotton bags in accordance with the conditions of settlement, do not need to change the package and other operations, convenient for the storage enterprises to perform and settle as soon as possible.

Three, it is clear in the implementation details that the responsibility for carrying out the storage is not due to the reasons for the storage and storage, which is not timely, or fails to notify the storage enterprises in time to confirm the results of the warehousing inspection. It is also clear that when necessary, the charging standards of the Treasury for re loading, sorting, moving, outgoing and warehousing, and so on, will protect the interests of the storage and storage enterprises.

It is necessary to remind the storage enterprises that it is best to centrally transport the contract according to the contract, at least at a minimum, should be transported to the warehouse in batches, so that the warehouse can be checked and declared for public inspection in time. Otherwise, the storage of cotton is not yet done, but it can not be included in the reserve insurance category, which will lead to a vacuum period of cotton insurance or increase the risk and cost of the storage enterprise.

In order to enter the market soon, we should remind the companies that are interested in bidding that they must carefully read the "implementation rules for rotation", "detailed rules for the implementation of notarization inspections" and "detailed rules for bidding transactions" which have been published by China grain storage group, China Fiber Quality Monitoring Center, and the national cotton trading market. We should study the relevant regulatory changes and actively prepare for the auction. We should make good use of the opportunity of Xinjiang cotton to enter the market, effectively control market risks and maximize the efficiency of enterprises.

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