Affected by the El Nino phenomenon, agricultural products such as cotton pods have hit new highs. China National Cotton Corporation sells the State Reserve Cotton and stabilizes the market price. Recently, the NDRC has asked the State Reserve Cotton to improve the efficiency of outbound delivery in response to the fact that some companies report that some of the stores are out of storage. Cotton futures prices have been adjusted slightly. However, we noticed that cotton has risen by 30% from the bottom, which is mainly in the second quarter. As the performance of listed companies of cotton and cotton spinning lags behind the increase in cotton prices, it is expected that their performance in the second and third quarters will be good.
It is highly recommended to pay close attention to the performance of leading cotton cultivation enterprises in Xinjiang such as Guannong. In addition, the price of cotton and cotton spinning is very strong, and the data shows that the profits of cotton spinning enterprises have increased along with the increase of cotton prices. We can pay attention to textile companies such as Blum East and Luthai A.
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