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'We seek stable cotton prices' – Textile expert
23 Nov '11
1 min read
In the face of the volatility faced by the cotton market in the first half of 2011, President of China Textile Industry Association - Wang Tiankai has called for creating favorable environment for the development of China's textile industry.
Cotton price rose from 17,000 Yuan per ton in May last year and soared to nearly 35,000 Yuan early this year, but the price fell sharply to 19,000 Yuan in August. With the state announcing the administrative rules of temporary storage plan, cotton price stabilized from continuous fall.
Chinese textile industry has encountered unprecedented difficulties due to the volatility of cotton prices this year.
President of China Textile Industry Association Wang Tiankai said that, “We always feel it will be good to have low cotton prices. We seek a relatively stable price for cotton and in turn a fair competitive environment”.
He stressed on the fact that, fluctuations in cotton prices, make leading textile companies to adopt a wait and watch attitude, if they observe that cotton price would further decline, which results in problems of poor circulation across the textile industrial chain.
Cotton price rose from 17,000 Yuan per ton in May last year and soared to nearly 35,000 Yuan early this year, but the price fell sharply to 19,000 Yuan in August. With the state announcing the administrative rules of temporary storage plan, cotton price stabilized from continuous fall.
Chinese textile industry has encountered unprecedented difficulties due to the volatility of cotton prices this year.
President of China Textile Industry Association Wang Tiankai said that, “We always feel it will be good to have low cotton prices. We seek a relatively stable price for cotton and in turn a fair competitive environment”.
He stressed on the fact that, fluctuations in cotton prices, make leading textile companies to adopt a wait and watch attitude, if they observe that cotton price would further decline, which results in problems of poor circulation across the textile industrial chain.
Fibre2fashion News Desk - China
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