Home / Knowledge / News / Textiles / Chinese govt promulgates cotton action plan
Chinese govt promulgates cotton action plan
01
Apr '11
Chinese authorities have announced an action plan to stabilize cotton production as well as market supply. It will also take care of expectations from cotton market operators and enterprises.

The plan, called the "Provisional cotton purchase and storage plan for 2011" will be implemented from September 1, 2011 to March 31, 2012.

China's National Development and Reform Commission developed the plan in collaboration with the Ministries of Finance, Agriculture and Railways. The State Administration of Quality Supervision and Supply, the Marketing Cooperatives Society and the Agricultural Development Bank of China also contributed. All these departments will work together to implement the plan effectively.

The main objective of this plan is to set interim purchase and storage prices for 2011 cotton. At present, purchase price of standard lint arriving at warehouses is 19,800 Yuan per ton. In accordance with this, purchase prices of other grade lint will be decided. Normally three percent grade difference and one percent length difference is considered to decide the prices of other grade lint.

China Cotton Association will promulgate reference acquisition price of seed cotton to the public from time to time. For that reasonable parameters will be decided. On the basis of provisional price of lint cotton, prices of cottonseed and related by-products, conversion price formula between lint and seed cotton will be declared.

During the implementation of this plan, China Reserve Cotton Corporation will have right to intervene. If the prices of cotton in the market will be lower than provisional purchase price for five consecutive working days, it will intervene. It will announce a bulletin in those circumstances.

Fibre2fashion News Desk - China

Must ReadView All

Courtesy: H&M

Apparel/Garments | On 30th Mar 2017

H&M group's sales increase 7% in 3 months to Feb '17

The H&M group's sales including VAT amounted to SEK 54,369 million...

Textiles | On 30th Mar 2017

Vietnam’s textile & garment exports earn $4bn in Jan-Feb

Vietnam earned $4 billion from textile and garment exports in the...

Textiles | On 30th Mar 2017

India Inc should work for July 1 GST roll out: Fin sec

The Goods and Services Tax (GST) will take India into a very exciting ...

Interviews View All

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Larry L Kinn
Suominen Corporation

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

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Bani Batra

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

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Tony Ward
Tony Ward

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

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
March 2017

March 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