MUMBAI (Commoditiescontrol) – China state reserve auctioned 88.60 percent cotton from total amount put for sale from 92.18 percent liquidated a day ago.
State reserve liquidated 17991.147 tonnes of cotton from 20305.387 tonnes. The total auctioned cotton was mainly from local and none from imported. The average length of cotton sold today was 28.68 mm.
The selling price during the auction ranged 13,000 yuan per tonne on the higher side, while 11,260 yuan per tonne on the lower side with average transaction price of 11,991 yuan per tonne.
The state reserve auction accumulated turnover of 812727.4402 tonnes during the current auction period, which begins from May 3.
The accumulated total turnover includes 301692.6126 tonnes imported cotton (100%), while domestic cotton turnover was 511035.0376 tonnes (97.14%).
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)