At present, China government finished the purchasing of 300000ton Xinjiang cotton. It is known that it takes 16 days to finished reserving from Dec.26,06 to Jan.17,07. China National Cotton Reserve Corporation has purchased 300800ton cotton in China Cotton Market with highest price 12700Yuan/ton, lowest one 12520Yuan/ton , average reserve price 12673Yuan/ton and reserve it in 11 warehouses.
Since new cotton came into the market, cotton peasant was suffering from the fallen earnings due to the decreased cotton price. Government's reserving aims at stabilize cotton market, protect peasant profit by taking advantage of this "Sluice pool". Before the purchasing, <
