China's cotton price keeps falling in spite of state purchase
Thursday, 28 August 2008
BEIJING, Aug. 27 (Xinhua): China's cotton price has continuously dropped as a result of sufficient market supply and less demand.
The country has completed purchase of cotton for state reserve in the Xinjiang Uygur Autonomous Region, which is China's largest cotton producer with the output accounting for 36 per cent of the country's total in 2007.
The state departments plan to purchase 131,260 tons of cotton by August 25 in the region, of which 65,800 tons were actually purchased, accounting for 50.13 per cent of the planned.
The country has completed purchase of cotton for state reserve in the Xinjiang Uygur Autonomous Region, which is China's largest cotton producer with the output accounting for 36 per cent of the country's total in 2007.
The state departments plan to purchase 131,260 tons of cotton by August 25 in the region, of which 65,800 tons were actually purchased, accounting for 50.13 per cent of the planned.