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ReturnPrice hike in domestic silk&cocoon in July
PublishDate：
2009-08-12 16:35:56
Hit：
2824
(Silk Branch for CCCT)
The domestic silk and cocoon prices increase by a relatively large margin, price hike of dried cocoon exceeds raw silk in July this year, China silk and cocoon exchange transaction data said.
Closing price based on spot monthly contract stands at 68,300 yuan/ton on July 31th, 9,400yuan/ton increase compared to the figure of the end of June,15.96% increase; Closing price of raw silk represents 208,500 yuan/ton, up19,800 yuan/ ton or 10.49 percent over the end of June.
There are following main factors affecting the fluctuation of price: Firstly, total yield of spring cocoon decreased in nationwide; secondly, the quality this year is superior than that of last year in general; thirdly, China’s raw silk export grows 3.07% in June month on month, the price increase in silk gives impetus to cocoon price. National Bureau of Statistics released the latest favorable operation data of national economy which shores up market confidence.
In August, summer cocoon appears on the market, then both yield and quality factors will affect the silk and cocoon’s prices to some extent.
