China Buys 2.5 Million Tons of Cotton for Reserve, Cncotton Says

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China, the world’s biggest cotton consumer, bought more than 2.5 million metric tons of the fiber from the domestic market since September to replenish state reserves, according to industry website cncotton.com.

Purchases have totaled 2,503,860 tons, representing about 38 percent of the country’s total cotton output last year, according to Bloomberg News calculations based on data from cncotton.com and the National Bureau of Statistics. Output gained 10.7 percent in 2011 to 6.6 million tons, according to the statistics bureau.

Source: http://www.bloomberg.com/news/2012-02-08/china-buys-2-5-million-tons-of-cotton-for-reserve-cncotton-says.html

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