MUMBAI (Commoditiescontrol) – China state reserve auctioned 92.18 percent cotton from total amount put for sale.
State reserve liquidated 18,131.9 tonnes of cotton from 19,670 tonnes. The total auctioned cotton was mainly from local and none from imported.
The selling price during the auction ranged 13,030 yuan per tonne on the higher side, while 11,290 yuan per tonne on the lower side with average transaction price of 12,033 yuan per tonne.
The state reserve auction accumulated turnover of 794736.2932 tonnes during the current auction period, which begins from May 3.
The accumulated total turnover includes 493043.8906 tonnes imported cotton (100%), while domestic cotton turnover was 301692.6126 tonnes (97.14%). The average length of cotton 29.14 mm.
The state reserve has so far sold around 40 percent of cotton stocks from target of 2 million tonnes.
(By Commoditiescontrol Bureau; +91-22-40015533)
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