Cotton prices remained unchanged in Chaohu, Anhui province, although cotton sales have picked up in recent days. T329 is currently offered at 14,400-14,500 RMB/ton.
Many cotton processing enterprises do not see any additional import quota in the near term since domestic cotton remains very high and the new crop harvest is only three months away. Extra import quota would crash domestic prices and hurt farmers income.
The flat price sale, according to some ginners, is tied to the very tight cash flows by the mills ahead of repayment deadline.
