According to a joint announcement made by the National Development and Reform Commission and other eight departments on the 31st, China will implement a temporary cotton purchasing and storage system in 13 major cotton producing provinces (regions and cities) including Xinjiang and Shandong. In 2011, the temporary storage price was 19,800 yuan per ton for the standard lint to warehouse price. The implementation time was from September 1 this year to March 31 next year.
According to the person in charge of the relevant departments of the National Development and Reform Commission, the country is currently on the eve of spring sowing, the state announced the establishment of a temporary purchasing and storage system, and announced this year's cotton purchase and storage plan, is conducive to protecting the enthusiasm of cotton farmers, stabilizing this year's cotton production, is for the cotton farmers to eat A "centering pill."
In order to stabilize the market expectations of cotton producers, operators and cotton companies, protect the interests of cotton farmers and ensure market supply, the Development and Reform Commission, the Ministry of Finance, the Ministry of Agriculture, the Ministry of Industry and Information Technology, the Ministry of Railways, the General Administration of Quality Supervision, Inspection and Quarantine, and the cooperation of supply and marketing The eight agencies including the Social Development Bank of China and the Agricultural Development Bank of China jointly issued the 2011 annual cotton interim storage and storage plan, and decided to implement the interim cotton purchase and storage system from 2011.
Since liberalizing the purchase and sale price of cotton in 1999, China has eased the cyclical problems caused by supply and demand and price fluctuations by temporarily collecting and storing lint in the main producing areas, which has played an important role in stabilizing cotton prices and protecting the interests of cotton farmers.
The Development and Reform Commission stated that the temporary cotton purchasing and storage system announced this time will normalize the state's temporary collection and storage of lint in the main cotton producing areas. According to the requirements of the cotton interim storage and storage scheme, prior to cotton planting, the state has formulated and announced the temporary purchasing and storage price of lint in the main cotton producing areas. After the listing of the new cotton, when the market price is lower than the temporary purchasing and storage price, the country will open up storage and storage.
It is understood that compared with the original temporary collection and storage measures, this arrangement has two prominent advantages: First, the advance announcement of storage and storage prices, can enable cotton farmers, cotton companies to do their own production plans in advance; second, unlimited number of open Storage and storage can enable the deposit companies to secure the acquisition of seed cotton and ensure the benefits to cotton farmers. In order to further protect the interests of cotton farmers, the cotton temporary collection and storage system continues to use the previously-established mechanism for linking the price of lint storage and storage to the purchase price of seed cotton. According to the temporary collection and storage price of lint and the price of by-products such as cottonseed, the reference price for seed cotton acquisition is announced and required. The storage company must purchase the seed cotton of the farmers at a price not lower than the reference price for the seed cotton purchase, otherwise it may not be stored.
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