The nation started temporary store up policy of cotton

Notice of the Preplan of on the Startup of the Temporary Store Policy of Cotton 2011 was jointly announced on September 7, by Economic and Commercial Department of National Development and Reform Committee and Economic Construction Department of Ministry of Finance.

The Notice said, since the cotton year of 2011, the cotton price on the market has been lower than government set price 19800 yuan/ton. According to the Notice, China National Cotton Reserves Corporation was requested to announce immediately the temporary store up policy, based on the principle of convenient collection, favored management, low cost, by a rational allocation of deposit sites. In accordance with the actual situation, carry out the store up in different stages under the support of the government parties conlerned.

The temporary store up work started on September 8, this year as required by the government and the Preplan.

Stipulated by the Preplan, once the price of the new cotton is lower than the government set price for the year, China National Cotton Reserves Corporation is responsible for open purchasing in the 13 cotton production regions including Xinjiang. The cotton purchased should be produced and processed in year 2011 and should be instrumentation checked large bale cotton.