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Imports of cotton may come under scanner
19
Nov '08
China continued to procure cotton as per its pre-announced plan last week (November 10 -14) with a view to stabilize the cotton market. The Authorities have said that protecting the interests of cotton farmers is paramount and the state will again increase cotton procurement in a timely manner after assessing the situation.

Imports of cotton will be put under strict control in 2009 in order to balance domestic cotton supply and demand. The procurement of cotton this year is limited to long staple variety, however, domestic cotton prices still continue to languish.

Last week, total cotton procured by the government was 87,750 tons, of which Xinjiang cotton accounted for 49,400 tons while purchases of inland cotton added up to 38,350 tons. As of November 14, at the end of second round of procurement 216,300 tons of cotton was purchased of which cotton from Xinjiang made up for 71 percent.

Fibre2fashion News Desk - China

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