China purchased 6.527 million tons of cotton by July 25 for the current cotton year (August 2006 - September 2007), increasing 17.9 per cent year on year.
A sample survey made by the China National Cotton Reserves Corporation (CNCRC) indicates that by July 25, the country processed 6.485 million tons of cotton in the current cotton year, up 18.3 per cent year on year; and sold 6.067 million tons, up 54.9 per cent.
Adding sales of the 300,000 tons of cotton from the state reserve, the sales of cotton is estimated at 6.367 million tons, an increase of 12,000 tons over that by July 20.
China put on sales of 300,000 tons of cotton from the state reserve for the purpose of curbing the sharp rises of cotton prices on domestic market.
The average selling price of 328-grade cotton was 14,510 yuan on July 27, up 207 yuan or 1.45 per cent over that on July 20.
CNCRC, a state-owned enterprise founded in 2003, is mainly responsible for the purchase, sale, storage, transportation and processing of the State cotton reserves and guiding cotton imports and exports.
A sample survey made by the China National Cotton Reserves Corporation (CNCRC) indicates that by July 25, the country processed 6.485 million tons of cotton in the current cotton year, up 18.3 per cent year on year; and sold 6.067 million tons, up 54.9 per cent.
Adding sales of the 300,000 tons of cotton from the state reserve, the sales of cotton is estimated at 6.367 million tons, an increase of 12,000 tons over that by July 20.
China put on sales of 300,000 tons of cotton from the state reserve for the purpose of curbing the sharp rises of cotton prices on domestic market.
The average selling price of 328-grade cotton was 14,510 yuan on July 27, up 207 yuan or 1.45 per cent over that on July 20.
CNCRC, a state-owned enterprise founded in 2003, is mainly responsible for the purchase, sale, storage, transportation and processing of the State cotton reserves and guiding cotton imports and exports.
