22 October 2018

China to cut its cotton stockpile, WSJ says

The Chinese government is planning to sell some of its roughly 10 million-ton stockpile of cotton this week, in a long anticipated move, the Wall Street Journal reported Tuesday. The government plans to sell the cotton via auction starting on Thursday with a minimum price of 18,000 yuan a ton, equal to about US$1.34 a pound, the report said, citing a notice posted on the website of the China National Cotton Information Center, a government-run cotton-industry body. 

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