Home / Knowledge / News / Textiles / Massive Chinese cotton auction likely to shake up market
Massive Chinese cotton auction likely to shake up market
01
Jul '15
China, the world's top cotton consumer, will auction an initial volume of 1 million tonnes of cotton from its 10 million reserves during July and August, said the country's top economic planner on Tuesday, according to media reports.

Beijing will offer 330,000 tonnes of domestic cotton from the 2011 crop with a floor price of 13,200 yuan ($2154) per tonne, 470,000 tonnes of domestic cotton from 2012 at 14,200 yuan ($2317) per tonne, and 200,000 tonnes of imported cotton from the 2012 crop at 15,500 yuan ($2530) per tonne.

The announcement from the National Development and Reform Commission confirms estimates of volumes and prices that have been circulating in the market for weeks.

China’s cotton stockpile auction is expected to shake up the international market and depress both price and demand.

“Small farmers hoping to sell their crops in the international market will not be able to compete with these prices,” said Anup Singh, global product manager, Fairtrade International.

Market rumours had swirled for weeks that Beijing was preparing to release some of its holdings under a now-abandoned state buying scheme to support farmers.

Global cotton prices have been tracking around five-year lows for the past 10 months, under pressure from weak demand and large stocks. (SH)

Fibre2Fashion News Desk – India


Must ReadView All

Last-minute changes in USMCA keeps lid on e-com

Textiles | On 18th Oct 2018

Last-minute changes in USMCA keeps lid on e-com

Eleventh hour changes to a new trade deal torpedoed US hopes of...

Courtesy: Haggar

Apparel/Garments | On 18th Oct 2018

Haggar uses Repreve fibre made of recycled water bottles

Haggar, a US based apparel brand established in 1926, has recycled...

Courtesy: Pexels

Apparel/Garments | On 18th Oct 2018

Myanmar’s CMP garment export earnings $2.2 bn in Apr-Sept

In the six-month April -September mini budget this year, earnings...

Interviews View All

Manfred Mentges, Sedo Treepoint GmbH

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Mandeep Nagi, Shades of India

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Top executives, Textile industry

Top executives
Textile industry

GST has levelled the playing field to an extent

Sugandha Bhardwaj,

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Tom Adeyoola,

Tom Adeyoola

Describing itself as the best body shape and garment fit company in the...

Pratik Agarwal,

Pratik Agarwal

Breya is a brand of Indo-Western clothes for women owned by ABP Apparels...

Giorgio Mantovani, Corman S.p.A

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Mr Ambrose Chan, DSG International (Thailand) PLC

Mr Ambrose Chan
DSG International (Thailand) PLC

Iago Castro Asensio, RCfil Distribuciones S.L.

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Sandeep and Sarah Shaikh Gonsalves, SS Homme

Sandeep and Sarah Shaikh Gonsalves
SS Homme

SS Homme celebrates the craft of traditional tailoring through the bespoke ...

Yash P. Kotak, Bombay Hemp Company

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Pranav Mishra, Huemn

Pranav Mishra
Huemn

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

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


October 2018

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

news category


Related Categories:

Advanced Search