Home / Knowledge / News / Textiles / 50% of cotton crop in Xinjiang province remains unsold
50% of cotton crop in Xinjiang province remains unsold
07
Nov '08
China has had a very good and bumper cotton crop in the current season, but to the misfortune of farmers nearly half of the crop from China's cotton bowl; Xinjiang province remains unsold. According to statistics of the China Bank of Agriculture Development, it has disbursed nearly US $3.3 billion in credit to firms to buy cotton till now.

But according to the bank, in spite of an increase in funds compared to that of the previous year, only half of the cotton crop or 1.29 million tons have been sold so far. Last year the province had contributed to 33 percent of the cotton or nearly 2.9 million tons produced in the country and has nearly 1.6 million hectares under cotton cultivation.

The subsidies provided to farmers are expected to be higher this year as the government would definitely want to protect the interests of the farmers. Cotton traders are also reluctant to make fresh purchases as their unsold stocks piles are mounting.

Statistics of the National Development and Reform Commission reveal that the cotton price plummeted by Yuan 2,000 per tonne in October from Yuan 13,722 per ton in August. This piquant situation has come about due to drop in demand from down stream manufacturers as the textile industry has felt the maximum impact due to the global meltdown.

Fibre2fashion News Desk - China

Must ReadView All

Courtesy: American Apparel

Apparel/Garments | On 25th Feb 2017

Gildan to make some American Apparel products outside US

Gildan Activewear, which recently acquired US fashion brand American...

Courtesy: Kolon Sport

Apparel/Garments | On 25th Feb 2017

Kolon Sport to set up JV with ANTA for Chinese market

Kolon Sport, an outdoor gear and clothing brand of Korea based Kolon...

Designer Karishma Jumani with Niraj Jawanjal, founder and director of IIFW. Courtesy: IIFW

Textiles | On 25th Feb 2017

IIFW to bring together premium lingerie brands

India Intimate fashion Week (IIFW), dedicated to showcasing the...

Interviews View All

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Iago Castro Asensio
RCfil Distribuciones S.L.

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

Steve Cole
Xerium Technologies

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

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing 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
February 2017

February 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