Home / Knowledge / News / Textiles / Cotton from reserves fails to appeal Chinese textile firms
Cotton from reserves fails to appeal Chinese textile firms
17
Jan '13
Cotton being released from Chinese state reserves is proving to be less attractive to domestic textile enterprises.
 
On the first day of open auction, 38,000 tons of cotton grade 3 was released from the reserves at 19,000 yuan/ton, basically in line with market expectations.
 
More than 90 percent of the released cotton was old, procured over two years ago by the state agency, and it proved to be less attractive to textile enterprises.
 
The release announcement did not mention total quantity of cotton to be released nor the release period. It also did not mention the 3:1 matching ratio, i.e. 1 ton of import quota for every 3 tons of cotton released from cotton reserves. However, the announcement mentioned that the enterprises participating in auctions could apply for cotton import quota.
 
According to experts, Chinese Government will release cotton from its reserves in a step-by-step manner. It will first release old cotton and then gradually release reserves from 2011 cotton in small batches.
 
As a result, the release of cotton from state reserves will only have moderate and short-term impact on the market, according to analysts.
 

Fibre2fashion News Desk - China

Must ReadView All

Textiles | On 25th May 2017

Huntsman and Clariant to have merger of equals

Huntsman Corporation and Clariant have announced that their boards of ...

Courtesy: CBRE

Apparel/Garments | On 25th May 2017

European cities preferred for retailer expansion: CBRE

European cities were the preferred new destination for international...

Apparel/Garments | On 25th May 2017

Guess records $458.6 million revenue for Q1 2018

For the first quarter of fiscal 2018, the net revenue of American...

Interviews View All

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search