CHINA: Auction Will Check Rising Cotton Prices
China's National Cotton Trade Market announced that about 200,000 tons of cotton reserves would be auctioned at the beginning of October in an attempt to check rising prices, Asia Pulse reported today. Experts warned cotton growers not to anticipate extraordinarily high prices and store their produce. Although China's cotton production was expected to fall short of demand this year, the Government would use its huge cotton stocks to balance supply and demand, said Zhu Lanfen, director of the Enterprise Reform Department of the State Textile Industry Bureau. Insiders estimate China has about two million tons of cotton in stock. China produced 3.1 million tons of cotton yarn in the first half of this year, up 16.8 per cent year-on-year. A national cotton conference hosted by the All-China Federation of Supply and Marketing Co-operatives in August decided that a suitable cotton price would be around 8,600 yuan (about $1.036) per ton. The price is higher than last year's suggested cotton price of the co-operative at 7,600 yuan (about $US915.70), and also about 10 per cent higher than last year's actual purchasing price at about 7,800 yuan (about $939.80) per ton.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-style gives you the widest apparel and textile market coverage.
Paid just-style members have unlimited access to all our exclusive content - including 17 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Leonie Barrie, editor of just-style
Help test our new apparel sourcing tool.
- Hard hit Turkish industry is not knocked out
- "Power of the many" drives change at Otto Group
- China leads US apparel sources with falling prices
- Vietnam grows share of US apparel imports in 2016
- US apparel sector braces for potential cost hikes
- US Q4 in brief – Foot Locker, Nordstrom, Carter's
- Bangladesh crackdown has cost garment sector $100m
- Inditex and H&M boycott Dhaka Apparel Summit
- Macy's will "do the right thing", says Lundgren
- JC Penney to close 140 stores amid lower sales
- When Things Go Wrong - A Practical Guide to Managing Common Problems in Apparel Sourcing
- Outdoor performance apparel 2016: A broader perspective
- Technical textile markets: product developments and innovations, December 2016
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Global market review of lingerie – forecasts to 2022