China mills urge govt for more Cotton from reserves

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Cotton mills in China are urging the government to release more Cotton from state reserves, as fewer quotas for low-tariff imports and higher demand for local yarn tighten supplies.

The government has already sold 1.57 million tonnes of Cotton via auctions, nearly 100% of the volumes offered since sales started in May, but traders say more was needed to meet an annual demand of 7 million tonnes given output and imports are on the wane.

China’s Cotton imports from overseas more than halved to 72,750 tonnes during the first six months of 2016 from a year ago.

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