China : Govt to balance cotton supply & demand

National Development and Reform Commission held economy and commerce conference in Beijing on December 11, 2006. Deputy Director of the State Development and Reform Commission, Bi Jingquan, prepared a report of the same.

He pointed out in his speech that the state will continue to balance the supply and demand of key commodities and the macro-control of commercial business next year

Regarding cotton, the Government would control the release opportunity and pace of cotton import quotas. Before the year-end, in addition to the commitments of tariff import quotas made while joining the WTO, in principle, additional cotton import quotas are being considered for release, next March.

The state will maintain appropriate stocks of Xinjiang cotton to encourage reasonable price hike and ease the difficult marketing situation. Government will conduct a study on the measures to remove the obstacles in the development of cotton processing industry, undertake research on how to protect cotton growers' interests when cotton enters 'full free' international market, as well as support policies to unstability in cotton output.
 
Fibre2fashion, News Desk - China