1. What is the meaning of CotlookA and CotlookB cotton price indexes?

A: The Cotton Look Cotton Price Index is an indicator that reflects the spot price level of the international cotton market, published by CottonOutlook. Cotlook cotton price index is divided into CotlookA index and CotlookB index. The unit of quotation is cents per pound. CotlookA index: It is the average of the five lowest Nordic spot CIF prices in 15 countries selected in the international upland cotton trade. The benchmark quality standard for the A index is M-level 1-3/32 inches (equivalent to China's 328 level). The geographical basis of the quotation is Northern Europe, and the conditions quoted are the CIF (CIF), which includes transportation fees, insurance premiums, and profit and agent commissions. The fifteen cotton quotation points are: Memphis, Uzbekistan, Mexico, Turkey, Tanzania, California, Pakistan, Australia, India, Paraguay, China (Class 329), African French District, Greece, Syria, Spain. CotlookB index: It is the average of the three lowest Nordic spot CIF prices among the eight upland cotton varieties in the world. The benchmark quality standard for the B index is SLM grade 1-3/32 inches (equivalent to China's 428 grade).

2. What are the prices of the seven major US cotton spot markets?

Answer: The prices of the seven major US cotton spot markets: refer to the US Southeast Market, North Delta, South Delta, East Texas, West Texas, Southwest Market, and the San Jose Gold Basin market standard grade (equivalent to National Cotton 427 Grade) The delivery price of cotton from the origin. The Cotton Projects Division of the Agricultural Marketing Department of the United States Department of Agriculture is responsible for collecting and arranging the average quotations of seven markets every day, and the prices of the seven markets basically represent the spot price level of American cotton.

The U.S. upland cotton standard grade refers to white cotton SLM1-1/16' (equivalent to national cotton grade 427), leaf shavings grade 4, micronaire value 3.5, 3.6-4.3, 4.9, strong 26.5-28.4 g/tex; The US cotton mid-grade refers to the white cotton M1-3/32' (equivalent to the national cotton 328 grade). Pima cotton in the seven markets mainly refers to grades 2 and 3, with lengths of 35 mm and 37 mm. The transaction volume is in packs, 480 pounds per pack.

3. What is the price quoted by the foreign cotton China main port?

Answer: The quotation of foreign cotton main port is the CNF reference quotation of the world's major cotton exporters, including cost and freight, excluding insurance; the duty-paid price includes customs duties, value-added tax and port fees. The quotation countries mainly include the United States, Australia, West Africa, Central Asia and other countries. The description of the outer cotton grade is as follows:

(1) Both U.S. cotton and Australian cotton adopt the U.S. cotton standard, which is the international general standard. SJV-Covenant Valley of the Western United States; CA-California and Arizona area; EMOT-Memphis and Texas area; Grade: GM-Level 1; SM-2 Level; M-level 3; SLM-level 4. Length: 1.1/16'-27 mm; 1.3/32'-28 mm; 1.1/8'-29 mm.

(2) Due to the different quality of West African, Central Asian and Brazilian cotton, they are generally sold according to the sample.

(3) Unit conversion: exchange rate 1 USD = 8.27 yuan, 13% value-added tax, 1% tariff, port fee 200 yuan, 1 ton = 2204.58 pounds.

4. How is the price of imported cotton converted under "general trade"?

A: In the case of "general trade", the cost of converting imported cotton into RMB is calculated as follows: According to the CNF price of a variety reported by the "cotton trader", the import cost includes the following fees-

(1) Maritime insurance premiums: the current average level is generally about two thousandths to four thousandths of the CNF price.

(2) Import tariff: 3% of the customs declaration invoice amount (will be reduced to 1% after 2001).

(3) Value-added tax: 13% after customs duty. (4) Port costs: including port construction, port miscellaneous fees, customs three inspection fees, container removal fees, container return fees, commodity inspection fees, etc. Although the level of each port will be different, basically the cost per ton will not exceed 200 yuan. (5) Agency fee: According to the current national regulations, general trade must be ordered and renewed through a designated company, such as "China Textile Cotton Import and Export Corporation", and the import license is renewed. The import enterprise must pay a 1% agency fee. (6) Internal freight: It varies according to the distance between the place where the cotton is used and the port. Import enterprises should calculate based on actual railway freight or highway freight.