The National Development and Reform Commission recently announced that the minimum purchase prices for early rice, medium-late-season japonica rice and japonica rice produced in 2012 in China's major rice producing regions have been raised to 120 yuan, 125 yuan, and 140 yuan for 50 kg, respectively, up from 18% in 2011. 17% and 9%. The government’s support policy for food production has strengthened the market’s expectation that the price of temporary cotton purchases and storage for next fiscal year announced in February will be raised on the basis of 19,800 yuan/ton.

At present, the domestic cotton spot market and electronic plate prices have all surpassed the closing prices to enhance the bargaining power of spot dealers, coupled with the post-holiday recovery of downstream cotton spinning companies, and the opening of the gauze market in succession, the procurement of cotton raw materials will also continue to be promoted. The cotton price continues its current slight upward trend. However, given that there is no fundamental improvement in textile orders in Europe and the United States, and a large number of foreign cotton arrive in Hong Kong, it is difficult for textile companies to purchase real estate cotton, and the domestic cotton price is limited to rise.

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