March 28, 2012

China National Cotton Reserves Corporation buys cotton for temporary storage

State-owned China National Cotton Reserves Corporation (CNCRC) has bought 3.0177 million tonnes of cotton for temporary storage for the year 2012 as of March 23, 2012.

According to the announcement made by the CNCIC (China National Cotton Information Center) in the evening of March 23, 1.3514 million tonnes of cotton were purchased by CNCRC from inland cities and the rest 1.67 million tonnes, from Xinjiang Uygur Autonomous Region.

The CNCIC also stated that CNCRC purchased a total of 22,730 tonnes of cotton for temporary storage on March 23, including 8,730 tonnes purchased from inland cities and 14,000 tonnes from Xinjiang.

Director General of the National Bureau of Statistics (NBS) once said that China was expected to produce 6.6 million tonnes of cotton in 2011, representing a 10.7% growth on an on-year basis. In addition, it was unveiled in the news conference held by the statistical bureau of Xinjiang Uygur Autonomous Region on January 30 that Xinjiang saw a total of 2.898 million tonnes of cotton output in 2011, growing by 16.9% from the previous year.