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Chinese govt to allocate cotton import quotas
15 May '10
1 min read
The Chinese government is expected to shortly allocate cotton import quotas in a bid to improve supply and restrict flare-up in cotton prices.
According to informed sources, the cotton import quotas are expected to reach 1.1 million tons. This volume is expected to stabilize supply in the short-term.
Since the last quarter of the previous year, cotton prices in the domestic and global markets have shot up by 35-40 percent, mainly due to recovery in demand.
China, apart from being the biggest producer of cotton is also the biggest importer as well as a consumer in the world, of what is otherwise also called white gold.
According to informed sources, the cotton import quotas are expected to reach 1.1 million tons. This volume is expected to stabilize supply in the short-term.
Since the last quarter of the previous year, cotton prices in the domestic and global markets have shot up by 35-40 percent, mainly due to recovery in demand.
China, apart from being the biggest producer of cotton is also the biggest importer as well as a consumer in the world, of what is otherwise also called white gold.
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