Home / Knowledge / News / Textiles / China's cotton purchase for reserves nears annual output
China's cotton purchase for reserves nears annual output
19
Mar '13
The accumulated acquisition by the China National Cotton Reserves Corporation under 2012-13 temporary purchase and storage plan has reached 6.384 million tons by March 15, 2013, according to an announcement made by the Information Center of State Reserve Cotton Corporation.
 
The purchase of cotton so far is quite close to China’s annual production of 6.84 million tons announced by the National Bureau of Statistics, and is also not far from 7.164 million tons of output estimated by the China Cotton Association for 2012-13 season.
 
In comparison, the temporary purchase and storage of national cotton reserves in 2011-12 was only 3.130 million tons.
 
So far, of the cumulative acquisition of 6.384 million tons for cotton reserves, 4.576 million tons of cotton was acquired through listing, while another 1.727 million tons was acquired by backbone enterprises through contracts.
 
Of the cotton reserves procured through listing process, 2.118 million tons was purchased from inland area, and another 2.539 million tons was bought from Xinjiang.
 
On the other hand, the sale of cotton released from reserves is slow and only 768,600 tons of cotton was traded by March 15 from the already released cotton by National Cotton Reserves.
 
China’s 2012-13 temporary cotton purchase and storage plan, launched on September 7 last year by the National Development and Reform Commission and the Ministry of Finance, will end on March 31, 2013.
 
The first round of the release of cotton from state reserves for 2012-13 is also scheduled to end on the same day.
 

Fibre2fashion News Desk - China


Must ReadView All

Textiles | On 24th Jul 2017

Govt extends deadline for GST composition scheme to Aug 16

The Government on India has extended the deadline for small...

L-R: Dhanapal, JMD, Best Corporation; Prabhu Damodaran, Convenor, ITF; Narayanasamy, MD, Micro Cotspin; Senthilnathan, MD Rasitex India; and Sabapathy, MD, Prasanna Spinning Mills

Textiles | On 24th Jul 2017

TN mills seek partnership with cotton growing states

Spinning mills in Tamil Nadu are seeking stronger partnership with...

Textiles | On 24th Jul 2017

Irani terms GST as a ‘great step towards transparency’

Union textiles minister Smriti Irani has termed the Goods and...

Interviews View All

Nishank Patel
Shri Dinesh Mills Limited

Broad range of fabrics will sell well this financial year

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Yash P. Kotak
Bombay Hemp Company

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

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

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

July 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


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



X