China's cotton sales up 48.4pc
Xinhua, Beijing
The China National Cotton Reserves Corporation (CNCRC) said Monday that China's cotton sales had jumped to 6.05 million tons by July 18 up 48.4 percent from the same period last year.A survey conducted by the CNCRC showed 6.46 million tons of cotton had been processed during the same period, up 18.4 percent, while 6.51 million tons was purchased, up 17.8 percent. The survey found the price of cotton had stabilised due to increased supply with the selling of the state cotton reserves since July 16, following continued rises over previous months as textile manufacturers increased cotton stocks.
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