Home / Knowledge / News / Textiles / Cotton subsidies to farmers on anvil

Cotton subsidies to farmers on anvil

14
Oct '08
China is contemplating putting in place a price subsidy for cotton farmers amidst falling cotton prices, said a senior official from the government.

These remarks were made by the deputy director of the Economic & Trade Department under the National Development and Reform Commission (NDRC), Mr Zhanping at the “International Cotton & Textile Summit Forum 2008" held in Shandong province.

According to Mr. Zhanping, the economic planning body will fix the cotton prices and depending on the prevailing raw cotton market prices the farmers will get subsidies directly from the government. He added by saying that the government will not directly intervene in the market.

In order to arrest the rapid drop in prices, NDRC may purchase and store cotton especially in the cotton rich Xinjiang province, said Mr Zhanping. Elaborating further he said that the cotton output in this year is equal to that of the record high of last year, but dropping demand was creating a fall in prices.

According him farmers are also not willing to sell their crop at prevailing rates as inputs costs have gone up in the last year and the returns were not proportionate to their investments. In Xinjiang province cotton is quoting at Yuan 5.3 (77 US cents), down by Yuan 0.8 from that of last year.

Figures released by NDRC show that more than 10,000 firms have collapsed in the last few months and two thirds will restructure in tune with current demands.

Fibre2fashion News Desk - China


Must ReadView All

Pic: Shutterstock

Textiles | On 10th Jul 2020

US, Kenya launch negotiations for free trade agreement

United States trade representative Robert Lighthizer and Kenya...

Pic: Shutterstock

E-commerce | On 10th Jul 2020

Commonwealth, ILO join partnership for inclusive e-com

The global 'eTrade for All' initiative, which aims at making digital...

Pic: Nike

E-commerce | On 10th Jul 2020

Nike Rise unveiled in Guangzhou as new store concept

Nike recently introduced Nike Rise, a first-of-its-kind store...

Interviews View All

Marazban F Velati, Sutlej Textiles & Industries limited

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Pinkesh Jain, Everflow Petrofils Ltd

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Vidhyaa Shankar. S, A Ganapathi Chettiar

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Shyam Gupta & Ravi Gupta,

Shyam Gupta & Ravi Gupta

Based out of South Delhi, Gargee Designer's provides bespoke formal and...

Marcel Moser,

Marcel Moser

Switzerland-based Benninger is a leading manufacturer of technologically...

Sandra Sequeira,

Sandra Sequeira

The JD Institute of Fashion Technology is the educational division of JD...

Larry L Kinn, Suominen Corporation

Larry L Kinn
Suominen Corporation

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

Urs Stalder, Sanitized AG

Urs Stalder
Sanitized AG

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

Luis Quijano, Liberty University

Luis Quijano
Liberty University

Focusing on bold patterns and colour palettes, Luis Quijano, a student at...

Nisha Chanda, Whistling Woods International School of Fashion

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Chandani Sahi, By Chandani

Chandani Sahi
By Chandani

By Chandani is a womenswear prêt couture brand with fusion silhouettes by...

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


July 2020

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


Advanced Search