Home / Knowledge / News / Textiles / 50% of cotton crop in Xinjiang province remains unsold

50% of cotton crop in Xinjiang province remains unsold

07
Nov '08
China has had a very good and bumper cotton crop in the current season, but to the misfortune of farmers nearly half of the crop from China's cotton bowl; Xinjiang province remains unsold. According to statistics of the China Bank of Agriculture Development, it has disbursed nearly US $3.3 billion in credit to firms to buy cotton till now.

But according to the bank, in spite of an increase in funds compared to that of the previous year, only half of the cotton crop or 1.29 million tons have been sold so far. Last year the province had contributed to 33 percent of the cotton or nearly 2.9 million tons produced in the country and has nearly 1.6 million hectares under cotton cultivation.

The subsidies provided to farmers are expected to be higher this year as the government would definitely want to protect the interests of the farmers. Cotton traders are also reluctant to make fresh purchases as their unsold stocks piles are mounting.

Statistics of the National Development and Reform Commission reveal that the cotton price plummeted by Yuan 2,000 per tonne in October from Yuan 13,722 per ton in August. This piquant situation has come about due to drop in demand from down stream manufacturers as the textile industry has felt the maximum impact due to the global meltdown.

Fibre2fashion News Desk - China


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 26th Oct 2020

25% Bangla garment manufacturing to be automated by 2023

A quarter of garment manufacturing activities in Bangladesh will be...

Pic: Shutterstock

Textiles | On 26th Oct 2020

BCI to cease all field-level activities in China's XUAR

Sustained allegations of forced labour and other human rights abuses...

Pic: Burberry

Information Technology | On 26th Oct 2020

Burberry launches gaming technology for fashion design

Burberry, and digital production agency, Koffeecup have joined hands...

Interviews View All

Rahuul Jashnani, Jashn

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Darshan Mehta, Infinium Polychem

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Divyesh Mashruwala, Akshar Industries

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Suresh P Bagrecha,

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Saad Khaled Bari,

Saad Khaled Bari

Benetex Industries is a public ltd company established in year 1992 to...

Akshat Chaudhary,

Akshat Chaudhary

Aizome, Asia's first Fairtrade denim brand, is all set to launch next...

Kerem Durdag, Biovation II LLC

Kerem Durdag
Biovation II LLC

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

Justin Chan & Shyam Gollakota, University of Washington

Justin Chan & Shyam Gollakota
University of Washington

A fabric that can store data without any electronics or batteries has been ...

Alfonso Marra, Klopman

Alfonso Marra
Klopman

It was in 1968 that Klopman introduced the concept of poly/cotton workwear ...

Varsha Wadhwa, VW

Varsha Wadhwa
VW

Coming from a family that ran a business of jute and linen mills since...

Sweta Agarwal, A Humming Way

Sweta Agarwal
A Humming Way

A Humming Way (AHW) is inspired by the old-world regalia of Rajasthan...

Bani Batra,

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

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 2020

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


Advanced Search