Home / Knowledge / News / Textiles / State raises cotton reserve plan
State raises cotton reserve plan
04
Nov '08
China Cotton Reserves Management Corporation announced on October 29, 2008, that the state decided to increase cotton reserve plan to 1 million tons, including both Xinjiang and Inland cotton under the new system. This reserve volume is much larger than previous expectation of 200,000-500,000 tons.

Minimum protection price for the new reserve stands at 12,600 yuan per ton. The key aim of this state control is to help farmers attain basic security. Seed cotton price is close to 5.4-5.6 yuan per kilogram, and is calculated at about 12,600 yuan per ton.

However, as of October 30, cotton spot price in China was still less than 12,000 yuan per ton, seed cotton price was around 4.2-5.30 per kilogram.


On October 29 itself, the daily reserve plan of 20,000 tons cotton was completed in less than three minutes, with average trade price at 12,600 yuan per ton.

This was just the start of the 1 million tons reserve project. Next day, the purchase of the daily reserve plan of 14,200 tons was completed

By the end of August this year, Cotton Reserve Company purchased more than 80,000 tons of 2007 growth through open auction. Meanwhile, by the end of October it acquired 220,000 tons new cotton of 2008 growth.

Experts say that, nevertheless it still remains to be seen whether the 1 million tons of reserve purchase plan could bring in real benefits to farmers.

Fibre2fashion, News Desk - China


Must ReadView All

Introduction of Trade Act is unacceptable: AmCham Cambodia

Textiles | On 22nd Mar 2019

Introduction of Trade Act is unacceptable: AmCham Cambodia

The American Chamber of Commerce (AmCham) Cambodia is deeply...

Indian e-com, consumer internet firms raise $7 bn in PE-VC

Apparel/Garments | On 22nd Mar 2019

Indian e-com, consumer internet firms raise $7 bn in PE-VC

Indian e-commerce and consumer internet companies have raised over $7 ...

Pic: Under Armour

Apparel/Garments | On 22nd Mar 2019

FLA accepts Under Armour's social compliance programme

The Fair Labour Association (FLA), which promotes and protects...

Interviews View All

Yashiki Gumber, Sahiba Fabrics

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Neel Sawhney, One Friday

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Divyesh Mashruwala, Akshar Industries

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Harssh Chheda,

Harssh Chheda

Mumbai-based Corporate Collars provides bespoke tailoring services for...

Lucilla Booyzen,

Lucilla Booyzen

South African Fashion Week (SAFW) is a B2B marketing platform for fashion, ...

Cong Zheng,

Cong Zheng

The China Textile Machinery Association (CTMA) is a social-economic...

Mohammad Hassan, Biax Fiberfilm

Mohammad Hassan
Biax Fiberfilm

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

Pierre Wiertz, EDANA

Pierre Wiertz
EDANA

EDANA, the international association serving the nonwovens and related...

Giulio Cesareo, Directa Plus SpA

Giulio Cesareo
Directa Plus SpA

Established in 2005, Direct Plus SpA, is one of the largest producers and...

Rupa Sood and Sharan Apparao, Nayaab

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

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...

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...

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