China will continue to sell state-owned cotton reserves through September, a month beyond the nation’s original intentions. A joint statement from the National Development and Reform Commission and the Ministry of Finance for China say the move comes as demand to buy the cotton is high, according to Pro Farmer. The statement also said the total amount of cotton auctioned could exceed the two million metric tons originally slated for sale. China has already sold 1.7 million metric tons of cotton reserves so far. The sales started in May as China’s massive stockpiles, accumulated through an abandoned price support scheme, were overshadowing world cotton markets. Up until this year, China was the world’s top cotton purchaser.
From the National Association of Farm Broadcasting news service.