Cotton purchases slow as quality standards increase
( China Daily )
Updated: 2013-10-12
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Cotton reserve purchases in China have slowed as the government raises quality requirements and withholds a portion of payments until the fiber passes inspection, according to textiles research firm Sinotex.cn.
China National Cotton Reserves Corp had purchased 100,630 metric tons of new-crop local cotton as of Sept 30, down 74 percent from a year earlier, according to estimates by Qingdao-based Sinotex.cn. Purchases from the Xinjiang Uygur autonomous region, the top-producing region, fell 76 percent to 71,400 tons, according a report.