Chinese cotton Shouchu policies to promote domestic cotton market to restore confidence

Chinese cotton reserves since the implementation of the National Emergency Management Corporation Shouchu since the beginning of the policy and the results bear fruit, the domestic cotton market began to recover confidence in cotton prices began to rise.

Chinese cotton reserves Management Corporation on October 27, October 21, China’s cotton reserves Management Corporation is responsible for the implementation of the national emergency Shouchu 220,000 tons Xinjiang plans to start bidding to buy, the same day the number of actual transactions 30,000 tons, the weighted average Price of 12,170 yuan / ton. October 22, in order to more effectively implement the policy Shouchu, the state decided to temporary will be the lowest price-based transactions should have time to give priority basis, the price fixed for the reunification of the country’s highest Shouchu 12,600 yuan / ton. On the same day, the actual number of transactions 80,000 tons, an increase of 167 percent. As of October 23, the number of transactions has a total of 170,000 tons, and cotton in storage is in accordance with the procedure laid down in a timely and orderly arrangements for the storage volume of cotton.

Shouchu since the beginning of the implementation of the policy, the domestic cotton market began to recover confidence in cotton prices began to rise. Oct. 23, standard-level cotton prices to 12,364 yuan / ton, up 22 over 89 yuan / ton, or 0.73 percent. In the domestic futures trading close to 20 varieties, only Mr Cotton futures opened higher after the strong run. Acquisition of seed cotton market has improved, Shandong and Hebei provinces, such as the abolition of corporate acquisitions continued to fall in the price of seed cotton program is still 2.75 yuan / jin Kai Cheng, but the enthusiasm of farmers sell is not very high, sell a limited number.