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

Information Technology | On 28th Mar 2017

Intex Consulting signs partnership with Kawan Era Baru

Germany based Intex Consulting GmbH has entered into a strategic...

Courtesy: Kraig Laboratories

Textiles | On 28th Mar 2017

Kraig gets certificate for silk production in Vietnam

Kraig Biocraft Laboratories, Inc., a leading biotechnology company...

Courtesy: Creora

Textiles | On 28th Mar 2017

Hyosung holds Creora workshops in China, HK & Taiwan

South Korean specialty fibre producer Hyosung held a series of...

Interviews View All

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Jay Ramrakhiani
Occasions Elegance Wear

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

Prathyusha Garimella
Prathyusha Garimella

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

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

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
March 2017

March 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search