Home / Knowledge / News / Textiles / Chinese govt hints at withdrawal of cotton reserve policy
Chinese govt hints at withdrawal of cotton reserve policy
22
Jan '14
The Government of China has hinted at withdrawal of its temporary cotton purchase and storage policy.
 
The central document issued by the Government lists the general focus of the agricultural sector. The document mentions continuation of reserves for wheat, rice, corn, rapeseed and sugar, but it does not mention anything about cotton reserves, which indicates that the Government may quietly abandon its cotton reserves program.
 
The China National Cotton Reserves Corporation (CNCRC) had earlier announced that it purchased 5.5 million tons of cotton since the harvest began in 2013, but it has now stopped buying cotton.
 
Through the CNCRC, the Chinese Government tried to maintain national cotton reserve system to safeguard a stable supply of the raw material to textile mills. However, the move turned out to be self-defeating.
 
The CNCRC currently holds more than half of the world cotton stocks, but it cannot meet the supply to textile mills as the price is higher than the international price, and textile mills chose to import cotton.
 
Now, it is expected that the Chinese Government would adopt a system of giving subsidies to cotton growers.
 
In 2013, China’s cotton production declined by 7.7 percent year-on-year to 6.3 million tons, according to the National Bureau of Statistics. However, cotton production in the Xinjiang region remained unchanged at 3.5 million tons.
 

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: Bangladesh Bank

Apparel/Garments | On 22nd May 2018

Bangladesh Bank enhances EDF loan limit to $25 million

Bangladesh Bank has enhanced the loan limit under Export Development...

Sri Lanka's textile imports up 32.5% in February 2018

Textiles | On 22nd May 2018

Sri Lanka's textile imports up 32.5% in February 2018

In what might be an indication of higher exports in the coming...

Provide power at Rs 8/kWh to textile units: APTMA

Textiles | On 22nd May 2018

Provide power at Rs 8/kWh to textile units: APTMA

All Pakistan Textile Mills Association (APTMA) has asked the...

Interviews View All

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Top executives
Textile industry

The foremost issue is bridging the skill gap

Headhonchos
Indian fashion industry

Cotton consumption will keep growing in the Indian fashion industry

Rajat Jaipuria

Activewear brand Soul Space promotes organic cotton farming and...

Mala Alwani

<div>Delhi-based fast fashion womenswear brand, Besiva, aims to bridge the ...

Urmil Arya

Sushila International, a well established textile organisation established ...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Jay Ramrakhiani
Occasions Elegance Wear

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

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Priya Somaiya
Usha Social Services

The Usha Silai label from Usha International is all set for a retail...

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

Leave your Comments


May 2018

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

news category


Related Categories:

Advanced Search