NEWS
China Battles Big Cotton Reserves
Lin Tan DTN China Correspondent
Fri Aug 29, 2014 03:38 PM CDT

BEIJING (DTN) -- Chinese cotton farmers will face a different marketing environment after harvest starts later this month.

The Chinese government's floor price purchasing program contributed to a mountainous stockpile -- almost twice annual consumption including the upcoming harvest. So this year, the government is switching to a target-price subsidy program and will pay farmers cash instead of buying more cotton.

"The cotton stockpile had increased a lot as government had to buy cotton at a higher price for the last three years," said Ruiping Li, vice president of Changshan Textile Co.

According to a recent survey, the state reserve ...

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