Development and Reform Commission: Recently issued an additional 400,000 tons of cotton quota

Two sources said that the National Development and Reform Commission has issued an additional quota of 400,000 tons of imported cotton in recent days to ease the pressure on textile companies.

According to one source quoted by Reuters, China has issued 2.4 million tons of cotton quotas this year, but a large amount of imported cotton in the early period has already used up these quotas. The current backlog of imported cotton in Qingdao, etc., has no quota to pass customs clearance. The quota price on the market has already escalated to a rare RMB 4,000/ton. This has added to the already difficult textile industry.

Another source said that the National Development and Reform Commission is considering the launch of the national cotton reserve in September and is currently investigating. The plan is to dump about 1 million tons of national cotton, including 300,000 tons of Chen cotton in 2008 and 700,000 tons of new cotton in 2011. In order to increase the market supply, at the same time to make room for the new cotton this year.

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