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Tianyun Interlining Manufacturing Co., Ltd
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News > China issued more cotton quota
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 China issued more cotton quota |
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As the world's largest cotton country of purchase, and an additional 40 million tons of cotton import quotas released to the textile mills, to help them find more low-cost international supply, industry sources said. Textile mills to persuade the government to raise import quotas, easy to purchase from overseas, 40% cheaper than the domestic price of cotton procurement from overseas.
The new quota will make this year's total import quota of 2.8 million tons, including 100 million tonnes in May. An industrial manager, said the National Development and Reform Commission has approved the quota.
Another traders formal, some textile mills have been assigned to the new quota, most of the quota which will be used for cotton in the bonded warehouse inventory clearance. So far, the supply of the domestic market is still tight.
Traders estimated that approximately 70-80 million tons of cotton stored in the bonded warehouse of the country's main ports. The government is also considering the next month, sales of cotton reserves to increase domestic market supply store to make room for the next month, the new cotton.
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