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Cotton demand in China may remain same as last year
30
Sep '13
The demand for cotton by domestic Chinese enterprises is likely to remain unchanged this year at 8.5 million tons, according to the China Cotton Association.
 
Gao Fang, executive vice president of China Cotton Association said from the demand perspective no further deterioration in the domestic demand is likely and the demand will remain similar to the previous year’s level at 8.5 million tons.
 
This year, the Chinese Government has decided to continue with its temporary storage policy, with tighter quality control norms to prevent ‘circling cotton’.
 
As of September 15, 21.6 percent of cotton crop was picked, but only 3.4 percent was sold at an average price of 8.49 yuan per kg.
 
Gao Fang expected macro-economic policies to improve and suggested that backbone enterprises should play a leading role and be a role model by having good grasp of quality and cost factors.
 

Fibre2fashion News Desk - India

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