Date
11 December 2017

Textile firms eye cotton price subsidy, paper says

Textile manufacturers expect direct subsidy from the government to help stabilize the price of cotton, China Business News reported Tuesday. Since the government started its stockpiling program in 2011, the domestic cotton price has continued to surge, and is now more than 20,000 yuan (US$3,252.95) per metric ton, higher than the international price of about 15,000 yuan. The government has decided to pursue the stockpiling program in the 2014-2015 season and plans to offer a subsidy of about 3,000 yuan per metric ton, the report said. However, there are still unresolved issues related to the target price and its implementation, it added.

– Contact HKEJ at [email protected]

TL/AC/CG

 

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