Home / Knowledge / News / Textiles / NRDC to review cotton procurement plan
NRDC to review cotton procurement plan
21
Nov '08
The National Development and Reform Commission said on November 20, that the state has started an emergency cotton procurement plan. According to the plan, the state will increase procurement amount by 1 million tons for national cotton reserves, the implementation of which has already started on October 29, to control fall in domestic cotton prices.

Impacted by adverse factors affecting the textile industry such as tight capital and poor export performance, domestic cotton purchase prices continued to drop in October. The progress rate of procurement was also slower than previous year. After purchasing 220,000 tons of Xinjiang cotton between October 21 and 24, relevant departments began to carry out the procurement plan of purchasing another 1 million tons of cotton from October 29.

As of the end of October, the provisional procurement totaled to 54,000 tons which also received positive response from cotton enterprises. Under the influence of the procurement, cotton purchases in domestic markets improved and the rate of fall in cotton prices was arrested and started showing stability.

The National Development and Reform Commission said that once the current procurement plan is completed by two-thirds, the commission will study how to further increase temporary procurement amount, if cotton price in the market continues to decline.


Fibre2fashion News Desk - China

Must ReadView All

Textiles | On 22nd May 2017

GST to be biggest achievement of Modi govt: ASSOCHAM

Goods and Services Tax (GST) which is near a roll-out would be the...

Textiles | On 22nd May 2017

Maintaining NAFTA benefits is crucial: Cotton council

The US must remain a participant in a vibrant North American Free...

Apparel/Garments | On 22nd May 2017

Retailers ask Congress not to go for consumption tax

The National Retail Federation has asked US Congress to focus on...

Interviews View All

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

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Karan Arora
Karan Arora

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

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Wendell Rodricks
Wendell Rodricks

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

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

news category


Related Categories:
May 2017

May 2017

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

SUBSCRIBE


Browse Our Archives

GO


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