Home / Knowledge / News / Textiles / China to keep building cotton reserves

China to keep building cotton reserves

12
Jul '12
China will keep building its cotton reserves and advise its farmers to produce more food.

Speaking today in Lubbock to a full room audience at the Board of Directors meeting of the Plains Cotton Growers, Inc., Wallace Darneille, President and CEO of Lubbock based Plains Cotton Cooperative Association (PCCA) explained reasons behind the cotton price volatility and the need for the Chinese to stock cotton.

Unstable export policy of India, European financial situation, battles between international commodity firms for dominance are some factors that influence cotton volatility.

Opening his presentation with a slide showing a Chinese man feeding his baby, this July squeeze is hurting mills and affects cotton consumption, said PCCA President Darneille.  Commenting on cotton supply, world’s cotton carryover is largest ever and will grow.

China is holding about one-third of carryover said, Wallace Darneille. According to him, China’s long-term problem is food and they will not dump cotton.

Wallace said Chinese government plans ahead for five years and will instruct farmers to grow food crops to feed its huge population; this Chinese situation will make the High Plains of Texas to be the center of cotton universe.

Commenting on current cotton price situation, he said, U.S. cotton producers cannot make money at December cotton trading at 70 cents. They have to produce at least 3 bales cotton per irrigated acre and keep cost low to make it through this year.

The reaction on this year’s cotton among the farmers who attended today’s meeting was mixed and almost everyone needed rain.

Seshadri Ramkumar


Must ReadView All

US President Joe Biden. Pic: Shutterstock

Textiles | On 29th Jul 2021

Proposed amendments to raise US content in federal purchases announced

The United States has decided to raise US-made content in government...

Pic: Shutterstock

Apparel/Garments | On 29th Jul 2021

Uninterrupted supply chain crucial for Vietnam amid ongoing COVID wave

Ensuring that the supply chain of Vietnam is not interrupted amid the ...

Pic: Moschino

Fashion | On 29th Jul 2021

Italy’s Aeffe buys remaining 30% stake in Moschino for full ownership

Italian luxury fashion company Aeffe has acquired fashion house...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Marry with brand ethos

Textile Industry, Head honchos

Textile Industry
Head honchos

Biggest learning was adaptability

Water stewardship, Stakeholders

Water stewardship
Stakeholders

Water use efficiency remains relatively unexplored

Harleen Kaur,

Harleen Kaur

Established in 2017 and headquartered New York, the label Harleen Kaur...

Zayed Moyeen,

Zayed Moyeen

Far East Knitting and Dyeing Industries LTD (FEKDIL) was established in...

Ritu Oberoi,

Ritu Oberoi

Established in 2018, Forsarees is a socially driven business enterprise,...

Sachin Pendharkar, Dieffenbacher India Pvt Ltd

Sachin Pendharkar
Dieffenbacher India Pvt Ltd

Germany-based Dieffenbacher Group is a producer of high-quality composites ...

Shujaul Rehman, Garware Technical Fibres

Shujaul Rehman
Garware Technical Fibres

Garware Technical Fibres Ltd (formerly Garware-Wall Ropes Ltd) is a...

Daniel Kaye, RocketLife

Daniel Kaye
RocketLife

<div>RocketLife, an award-winning developer of breakthrough visual...

Sailesh Singhania, Sailesh Singhania Label

Sailesh Singhania
Sailesh Singhania Label

The Sailesh Singhania label was created to promote handwoven sarees and...

Anjali Bhaskar, Samatvam

Anjali Bhaskar
Samatvam

Anjali Bhaskar has an experience of 12 years in the fashion industry. She...

Niti Singhal, Twee In One

Niti Singhal
Twee In One

Best known for convertible clothing, Indian brand Twee In One by designer...

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