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

UK publishes temporary tariff regime for no-deal Brexit

Apparel/Garments | On 19th Mar 2019

UK publishes temporary tariff regime for no-deal Brexit

The United Kingdom will avoid imposing tariffs on most imported goods ...

Pic: UN Environment

Apparel/Garments | On 19th Mar 2019

UN Alliance for Sustainable Fashion addresses fast fashion

The UN Alliance for Sustainable Fashion, launched recently at the UN...

Cotton arrival at Pak ginneries down 6.84% as on March 15

Textiles | On 19th Mar 2019

Cotton arrival at Pak ginneries down 6.84% as on March 15

Over 10.762 million bales of cotton have arrived in 2018-19 season at ...

Interviews View All

Darshan Mehta, Infinium Polychem

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Viral Desai, Zenitex Mill Pvt Ltd

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Yash Maniyar, Rekha Maniyar

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Sarah Perkins,

Sarah Perkins

Fairfax, Virginia-based Specialty Graphic Imaging Association (SGIA) is a...

Carolin Russ,

Carolin Russ

Weko, Weitmann & Konrad GmbH & Co KG, based in south Germany, is...

Shivani Swamy,

Shivani Swamy

The Livinguard Technology is owned by Green Impact Holding AG based in...

Mohammad Hassan, Biax Fiberfilm

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Kerem Durdag, Biovation II LLC

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Andreas Lukas, Andritz Nonwoven

Andreas Lukas
Andritz Nonwoven

With forces in engineering and process development, Andritz Nonwoven...

Mike Hoffman, Gildan Activewear SRL

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Pranav Mishra, Huemn

Pranav Mishra
Huemn

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

Prathyusha Garimella, Prathyusha Garimella

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

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


March 2019

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

news category


Related Categories:

Advanced Search