Home / Knowledge / News / Textiles / State may very soon release cotton reserves
State may very soon release cotton reserves
07
Aug '10
Rumours are circulating in the Chinese cotton markets that, the state will release very soon, 600,000 tons of state cotton reserves purchased in cotton season 2008-09 and as per experts, the opening price for cotton auction will be 165,000 Yuan per ton and the maximum trade price will be limited at 18,000 Yuan / ton.

The actions are expected to last till around National Day (October 1) and daily sales volumes are expected to touch 15,000 tons. As October is the time when new cotton comes into the market, experts aver that, 16,500 Yuan / ton could be the intersection price of old and new cotton.

According to market sources, after this release of cotton reserves, national cotton reserves will only have 1.2 million tons left. China will import large quantity of cotton from overseas markets, which will give support to cotton price in 2011, so new cotton is unlikely to fall below 16,500 Yuan per ton.

Recently, international cotton traders have already signed contracts for cotton shipment between October to January for American, Brazilian and West African cotton. However, domestic companies' worry that US cotton can not be shipped out by the end of December.

Some cotton textile factories holding import quotas hope the state will start releasing cotton reserves as soon as possible, as it will not only suppress the galloping domestic cotton price, but can also facilitate reasonable integration of new and old cotton prices.

At present, weak downstream market has become a major drag on cotton market, the spread between cotton and viscose staple fiber as well as polyester staple fiber remains large, downstream textile industry continues to wait and see the development of the situation.

Fibre2fashion News Desk - China

Must ReadView All

Apparel/Garments | On 23rd Feb 2017

NAFTA renegotiation puts Mexico-US jeans trade at risk

The almost imminent renegotiation of the North America Free Trade...

Rick Helfenbein (left), president and CEO of AAFA, with Juan Estrada, chief of party, Hub; Courtesy: Hub

Apparel/Garments | On 23rd Feb 2017

AAFA inks agreement for best manufacturing in East Africa

The American Apparel & Footwear Association (AAFA) has entered into a ...

Mango vice-chairman and member of the board of directors Daniel Lopez (L) with Ananth Narayanan, CEO, Myntra & Jabong. Courtesy: Myntra

Apparel/Garments | On 23rd Feb 2017

Mango awards distribution & management rights to Myntra

Mango, the Spanish fast fashion brand, has awarded its master...

Interviews View All

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Kerem Durdag
Biovation II LLC

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

Marcel Alberts
Eurofibers

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

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

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
February 2017

February 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search