Home / Knowledge / News / Textiles / Largest global textile group to buy 50,000 tons cotton

Largest global textile group to buy 50,000 tons cotton

29
Feb '12
The biggest textile group in the world has firmed up plans to purchase 50,000 tons of raw cotton in the current cotton season.

Weiqiao Group plans to issue one billion Yuan of short-term financing bills which will be used to purchase cotton in 2011-12 cotton season.

The Group had begun purchasing cotton from the beginning of the season and hopes to complete purchase of 50,000 tons by March and will spend around 10 billion Yuan on the same.

Meanwhile, China's cotton price continues to maintain a rising trend. Purchase price of cotton grade 3 rose to 19,800 Yuan / ton.

Analysts from the industry are of the opinion that, Weiqiao Group will purchase cotton before the new round of temporary policy for State cotton reserves purchasing.

It is expected that the State will increase prices for procurement under the temporary policy to more than 19,800 Yuan / ton in order to stabilize cotton situation.

This means that it will be difficult for cotton price to decline substantially in the current year, say experts.

Normally the cotton purchase period extends till April or May, but this year it is estimated to close by end of March as cotton textile enterprises have shown higher enthusiasm in purchasing.

Fibre2fashion News Desk - China


Must ReadView All

Pic: Shutterstock

Textiles | On 27th Jul 2021

Freeze branding not non-mulesed in new Oz National Wool Declaration

Australian wool exporters have backed a revised National Wool...

Pic: Shutterstock

Apparel/Garments | On 27th Jul 2021

Jordan's garment industry showed 'resilience' during pandemic: Report

Jordan's garment industry did not witness the pandemic’s worst...

Pic: LVMH

Fashion | On 27th Jul 2021

French luxury goods firm LVMH’s H1 FY21 revenue surges 56% to €28.6 bn

With remarkable performance by the Fashion & Leather Goods business...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

The pandemic has reinstated need for organised retail spaces in Tier II...

Textile Industry, Head honchos

Textile Industry
Head honchos

Main challenges are breakdown of supply chain and shrinkage of manpower

Textile Industry, Head honchos

Textile Industry
Head honchos

Quality & affordability to affect market acceptability of new fibres

Chendhuran Sundar,

Chendhuran Sundar

It manufactures and retails menswear garments in India under the brand...

Sanjay Vakharia,

Sanjay Vakharia

One of the first few Indian denim brands, Spykar, established in 1992, was ...

Aashumi Mahajan,

Aashumi Mahajan

Luxe Maison is a premiere haute couture e-boutique established after 2015. ...

Shaan Sethi, Jaanuu

Shaan Sethi
Jaanuu

Jaanuu, a vertically integrated e-commerce company, has reimagined the...

Daniel Odermatt, Ventile

Daniel Odermatt
Ventile

Ventile is a registered trademark used to brand a special high-quality...

Jacques Prigneaux, EDANA

Jacques Prigneaux
EDANA

EDANA has been the leading global association and voice of the nonwovens...

Seema Agrawal, Artisan Saga

Seema Agrawal
Artisan Saga

Artisan Saga, founded by Kaushik Rajani and Seema Agrawal, is an online...

Sweta Agarwal, A Humming Way

Sweta Agarwal
A Humming Way

A Humming Way (AHW) is inspired by the old-world regalia of Rajasthan...

Ruma Devi, Gramin Vikas Evam Chetna Sansthan

Ruma Devi
Gramin Vikas Evam Chetna Sansthan

Ruma Devi is a jet-setting promoter of artisans who has empowered...

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

Leave your Comments


July 2021

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


Advanced Search