National Development and Reform Commission: some cotton reserves will be released in July and August
The reporter recently learned from the National Development and Reform Commission that with the approval of the State Council, the relevant departments have decided to follow the principles of promoting the sustained and healthy development of the industry, guiding the smooth operation of the market, reducing the financial burden, and improving the regulation and control mechanism of cotton reserves, and adopt the method of "asymmetric rotation, first rotation and then rotation, multi-rotation and less rotation" to digest the national cotton reserve stocks in an orderly manner and gradually reduce the reserve scale to a reasonable level.
According to the current cotton supply and demand situation and market operation situation, the rotation of cotton reserves will be arranged through the national cotton trading market in July and August this year by means of open bidding. The rotation quantity is temporarily arranged as 1 million tons, and the sale will be suspended after the start of the new year in September. The specific quantity and price arrangements are: 330000 tons of domestic cotton in 2011, with a reserve price of 13200 yuan / ton (discount standard grade 3128B, the same below); 470000 tons of domestic cotton in 2012, the reserve price is 14200 yuan / ton; in 2012, the upset price of imported cotton is 200000 tons, the reserve price is 15500 yuan / ton. Rotation will be arranged separately according to the actual transaction situation and the later market operation, and will be carried out during the centralized listing of new cotton. The number of rotation will not exceed 40% of the quantity of this round, and the price will follow the market.
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