Home / Knowledge / News / Textiles / NRDC to review cotton procurement plan

NRDC to review cotton procurement plan

21
Nov '08
The National Development and Reform Commission said on November 20, that the state has started an emergency cotton procurement plan. According to the plan, the state will increase procurement amount by 1 million tons for national cotton reserves, the implementation of which has already started on October 29, to control fall in domestic cotton prices.

Impacted by adverse factors affecting the textile industry such as tight capital and poor export performance, domestic cotton purchase prices continued to drop in October. The progress rate of procurement was also slower than previous year. After purchasing 220,000 tons of Xinjiang cotton between October 21 and 24, relevant departments began to carry out the procurement plan of purchasing another 1 million tons of cotton from October 29.

As of the end of October, the provisional procurement totaled to 54,000 tons which also received positive response from cotton enterprises. Under the influence of the procurement, cotton purchases in domestic markets improved and the rate of fall in cotton prices was arrested and started showing stability.

The National Development and Reform Commission said that once the current procurement plan is completed by two-thirds, the commission will study how to further increase temporary procurement amount, if cotton price in the market continues to decline.


Fibre2fashion News Desk - China


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 4th Aug 2020

EVFTA fabric origin rule a challenge for Vietnamese firms

Despite the European Union (EU)-Vietnam Free Trade Agreement (EVFTA), ...

Pic: Tailored Brands

Retail | On 4th Aug 2020

Tailored Brands files voluntary bankruptcy petitions

US retail holding firm Tailored Brands and certain of its...

Pic: Chico's FAS

Apparel/Garments | On 4th Aug 2020

Chico's FAS Canada files for bankruptcy, to close stores

Chico's FAS Canada, a subsidiary of US women's clothing and...

Interviews View All

Subhashini Srinivasan, The S Studio

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

Dharmendra Shah, Ozone PB Spintex Limited

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Top executives, Textile Industry

Top executives
Textile Industry

We will move away from mass production to production in micro-factories

Arup Chakraborty,

Arup Chakraborty

Mirrorsize is a US-based start-up that provides artificial intelligence...

Pietro Turrin,

Pietro Turrin

Industrie Tessili Bresciane (ITB) has served numerous industries and...

Carmen Makover,

Carmen Makover

Leading the digital textile printing industry, Israel-based Kornit...

Johan Berlin, Investkonsult Sweden AB

Johan Berlin
Investkonsult Sweden AB

Investkonsult Sweden AB are consultants in the nonwoven and absorbent...

Brad Holschuh, Wearable Technology Lab, University of Minnesota

Brad Holschuh
Wearable Technology Lab, University of Minnesota

A new study led by researchers at the University of Minnesota's Design of...

Hemant Bheda, Arevo

Hemant Bheda
Arevo

Arevo, based in Silicon Valley in California, develops technology to...

Adriano Goldschmied, AG Jeans

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Amiben Shroff, Shrujan

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Cigdem Akin, Cigdem Akin

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

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