Cotton "State Temporary Reserves" Has Arranged 20 Billion 400 Million Yuan Of Credit Funds.

The head of the Department of Agriculture Development Bank of China said 21 days from the national cotton temporary.

According to reports, the national cotton temporary purchase and storage plan was launched in September 8, 2011, and the number of cotton that meets the relevant quality requirements is open to the public.

China cotton information network data show that since the beginning of the temporary purchase and storage policy, cotton prices have been declining before the change. (from March this year, China's cotton price index fell from 31228 yuan / ton in March 10th to 19059 yuan / ton in August 16th), showing a slight increase.

The cotton index has risen from 19502 yuan / ton in September 7th to 19738 yuan / ton in September 16th.

On the other hand, the price of cotton and cotton yarn in the domestic market recently released by the NDRC shows that the effect of the policy of collecting and storing the market has shown that domestic cotton purchase and sale prices continue to rise steadily.

In September 16th, the average purchase price of seed cotton in the mainland was 4.22 yuan / kg, up 0.06 yuan / Jin compared with last week, or 1.4%; the average price of seed cotton purchase in Xinjiang was 4.32 yuan / Jin, up 0.02 yuan / Jin, or 0.5%.

In the 2010 cotton year from last September to August this year, the Agricultural Development Bank issued a total of 39 billion 800 million yuan of cotton purchase loans, an increase of 6 billion 200 million yuan compared with the same period last year.

These funds support a total of 40 million 600 thousand cotton purchases by enterprises, accounting for 34% of the total cotton output in the country.

In the context of relatively tight monetary policy this year, bank credit funds are tight, and the huge amount of capital needed for cotton purchasing and storage can be punctually in place.

The head of the relevant department of the agriculture development bank said that in the face of the "roller coaster" cotton market in 2010, the Agricultural Development Bank promptly adjusted the credit policy to ensure the smooth progress of cotton purchasing.

At the end of the cotton season, the principal and interest of these loans have basically been recovered, which has achieved a virtuous circle of cotton purchase loans, and has laid a solid foundation for the continued support of cotton purchase in 2011.

The responsible person said that the 2011 cotton year, the agricultural development bank to purchase, prevent the emergence of "selling cotton difficult" and "white ious" as the primary task of cotton credit work, and strive to cotton purchase credit funds in a timely, full, stable and orderly supply.

It is understood that