Home / Knowledge / News / Textiles / Massive Chinese cotton auction likely to shake up market
Massive Chinese cotton auction likely to shake up market
01
Jul '15
China, the world's top cotton consumer, will auction an initial volume of 1 million tonnes of cotton from its 10 million reserves during July and August, said the country's top economic planner on Tuesday, according to media reports.

Beijing will offer 330,000 tonnes of domestic cotton from the 2011 crop with a floor price of 13,200 yuan ($2154) per tonne, 470,000 tonnes of domestic cotton from 2012 at 14,200 yuan ($2317) per tonne, and 200,000 tonnes of imported cotton from the 2012 crop at 15,500 yuan ($2530) per tonne.

The announcement from the National Development and Reform Commission confirms estimates of volumes and prices that have been circulating in the market for weeks.

China’s cotton stockpile auction is expected to shake up the international market and depress both price and demand.

“Small farmers hoping to sell their crops in the international market will not be able to compete with these prices,” said Anup Singh, global product manager, Fairtrade International.

Market rumours had swirled for weeks that Beijing was preparing to release some of its holdings under a now-abandoned state buying scheme to support farmers.

Global cotton prices have been tracking around five-year lows for the past 10 months, under pressure from weak demand and large stocks. (SH)

Fibre2Fashion News Desk – India


Must ReadView All

Europe fights against microplastic release from textiles

Textiles | On 18th Jan 2018

Europe fights against microplastic release from textiles

The European Commission, the institution of the European Union, has...

Egypt starts building biggest textile city in Al-Sadat

Textiles | On 18th Jan 2018

Egypt starts building biggest textile city in Al-Sadat

Egypt has started construction of the biggest city for textiles and...

Vietnam targets $20 bn from export of footwear, bags

Apparel/Garments | On 18th Jan 2018

Vietnam targets $20 bn from export of footwear, bags

Vietnam targets to earn around $20 billion from the export of...

Interviews View All

Headhonchos
Indian fashion industry

Organic the first choice of any environment-conscious person

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Urmil Arya

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

Lynda Kelly
Suominen Corporation

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

Mark Paterson
Technical Absorbents Ltd

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

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

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

January 2018

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

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

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

Yes No

Active Poll

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

Yes
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

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

Yes No

Active Poll

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

Yes
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

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

Active Poll

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

Yes
82.5%
No
8.2%
Skip
9.3%

Total Votes: 97


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