Home / Knowledge / News / Textiles / Record cotton procured in 3rd round of purchase
Record cotton procured in 3rd round of purchase
09
Dec '08
Cotton procurement or market intervention as it is commonly known globally was one of the means for the government to regulate, control and maintain the stability in the cotton markets. In the current year till date, the government has procured cotton three times from the market to support the tripartite interests of cotton enterprises, textile enterprises and cotton farmers.

In the first round which took off on August 19, the government purchased 150,000 tons of cotton from Xinjiang province at a predetermined price of Yuan 13,400 per ton for delivery at Xinjiang and Yuan 13,600 per ton for delivery at warehouses located in inland areas for standard class 328 grade of cotton. The objective of this round was to bring an impetus in sales of the white gold.

The second round conducted from October 16 onwards was able to procure 220,000 tons of cotton at a price of Yuan 12,600 per ton (delivery Xinjiang) for the same quality of cotton as in the first round. The main purpose behind organizing the second round was to ease the deadlock between the cotton buying enterprises and farmers.

The third and final round till date, carried out on October 29 is probably the biggest round of cotton procurement in history and was able to purchase 1,000,000 tons of cotton. The procurement price was the same as in the second round and the target of the round was Xinjiang and inland cotton with the rationale being to help solve reduce inventory levels of farmers and infuse some momentum in the gloomy cotton market.

The National Development and Reform Commission has gone on record to say that the state will consider introduction of further measures, including adjusting the quantity and timing of cotton imports, if cotton prices decline further.

Fibre2fashion News Desk - China


Must ReadView All

Textiles | On 26th Jul 2017

Q1 2018 revenue at Raymond soars 14%

The consolidated revenue of Raymond Limited for the first quarter of...

Textiles | On 26th Jul 2017

Textile Corp of America to create 1000 jobs in Tennessee

Textile Corporation of America Inc, a leading textile manufacturer,...

Textiles | On 26th Jul 2017

Leather & footwear industry expecting incentive package

India’s leather and footwear industry is anticipating an incentive...

Interviews View All

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Rajiv Sirohi
Shara

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

Luke Otten
Wigwam Mills Inc

Wigwam aims to recycle discarded yarn that doesn’t make it through the...

Lynda Kelly
Suominen Corporation

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

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Prathyusha Garimella
Prathyusha Garimella

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

Tony Ward
Tony Ward

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

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

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

July 2017

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

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

Yes No

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

Yes No

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


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



X