New cotton purchases and purchases were opened at fixed prices in 2011

Recently, the National Development and Reform Commission held a meeting to study preparations for the collection and storage of cotton in the new year. The meeting clarified the cotton collection and storage policy for the new year, that is, it started the new cotton storage and storage at the appropriate time from September 1st and opened the acquisition at a fixed price of 19,800 yuan/ton.

It is reported that relevant units including the China Cotton Textile Industry Association attended the meeting, and representatives of various units discussed the transaction methods and specific implementation measures for purchasing and storage. In order to provide a good environment for the development of cotton and textile industry, further improve the level of national macro-control, and ensure the effectiveness of regulation and control, related departments will further improve the relevant system of purchasing and storage. The specific implementation plan will be announced in late August.

Industry experts believe that this move will play a positive role in stabilizing cotton prices and boosting corporate confidence.