Growing demand for cotton in China
02/06/2009
China’s National Development and Reform Commission (NDRC), the country’s main economic planning body, said on June 2 that 1.5 million tonnes of state-reserved cotton would be sold on the domestic market to meet growing demand.
The amount of state-reserved cotton was abundant and government agencies would decide on the appropriate time to release it on to the market, said the statement.
NDRC figures show that the price of cotton has risen by almost $300 a tonne since November because of a supply shortfall.
The state bought a total of 2.72 million tonnes of cotton between August last year and March this year, according to the state-owned China National Cotton Reserve Corporation.
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