BEIJING, China - China will release 400,000 tonnes of cotton from state reserves, on top of 600,000 tonnes released last month, to meet textile needs and to counter rising domestic prices, the China Cotton Association said.
The association, in a statement posted on its web site (www.china-cotton.org), did not give more details.
The sales came as the domestic harvest was delayed by about 10 days to late September or October. Domestic cotton prices have risen to a record high due to tight supplies and a recovery of textile production.