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Volumes at cotton reserves auction growing
04
Jul '09
The state had planned to release 45,077 tons of cotton reserves for auction on June 29, of which 11,448 tons were from 2003/04 cotton reserves and 33,629 tons were from 2008 cotton reserves.

After seven hours of intense bidding, actual deal volume was 29,264 tons, of which the total volume and quantity of 2003/04 crop was sold along with 17,816 tons of 2008 crop, with 15,813 tons staying unsold.

As of June 29, cumulative sales from the beginning of the auctions of cotton reserves, touched 466,763 tons, among them, 263,144 tons were 2008 cotton reserves and 203,619 tons was from the 2003/2004 crop.

On June 29, the weighted closing price of 2003 cotton reserves was 12,232 Yuan / ton with an average fibre length of 26.95 mm and that of 2008 cotton reserves stood at 12,718 Yuan / ton, with an average fibre length of 28.22 mm.

Fibre2fashion News Desk - China

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