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Cotton reserve auctions meet sales target
04
Sep '09
The volume of cotton reserves for auction released on September 2 stood at 15,050 tons and actual turnover touched 6,951 tons, of which all of 3,104 tons of 2005 cotton reserves were traded.

Of the 11,946 tons of 2008 cotton reserves put up for auction, 3,847 tons of cotton was auctioned. The average price of 328 grade cotton from 2004 reserves commanded 13,533 Yuan per ton and that of 2008 reserves sold at 13,053 Yuan per ton.

As of September 2, 1.54 million tons of cotton reserves have been successfully sold out, of which, 1.01 million tons is from 2008 cotton reserves, 531,751 tons from 2004 reserves and 3,104 tons from 2005 reserves.

Fibre2fashion News Desk - China

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