There Are Still A Lot Of Bright Spots In This Year'S Cotton Reserves.

In April 25th, the notice on arrangements for rotation of national cotton reserves was released at the same time.

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The China cotton reserve management corporation and the China Fiber Inspection Bureau separately formulated the "2015/2016 annual national storage cotton rotation trading method", "the implementation rules for the national cotton reserve warehousing in 2015/2016" and the "implementation plan of the national cotton reserve round cotton notarization inspection in the year of 2015/2016". If we look closely at the detailed rules issued by the three departments, we will find many bright spots.

In order to digest the state reserve cotton inventory in an orderly way, the reserve scale will be adjusted to a reasonable level. This year, the reserve cotton rotation not only improved the operation mode, but also improved the efficiency of reserve control.

Compared with previous rounds, the biggest highlight of this year's round is the bottom price and the public inspection standard.

In 2016, the sale price of the national reserve cotton (discount standard grade 3128) will be adjusted once a week based on the domestic and international cotton prices. The formula is as follows: the average price of cotton spot price index in the domestic market last week, the weighted average 50%+, the average price of the spot price index in the international market last week, the average weight is 50%.

The selling base price of non standard grade reserve cotton is calculated according to the quality difference table published by China Cotton Association.

In the past years, basically, the state set up a base price based on the prevailing market conditions, and will use this fixed price during the whole round.

The advantage of doing so this year is that the downstream enterprises can easily auction the right price lint and enhance the enthusiasm of the bidding enterprises.

Besides the price, the way of public inspection is also a highlight.

This year, the rules for the implementation of the national reserve cotton outgoing warehouse stipulate that the domestic cotton produced in this year will be subject to 100% public inspection (quality index package inspection and batch inspection of weight index). The difference between quality and weight will be sold in accordance with the re notarized inspection results within the allowable range.

The quality inspection of imported cotton is in accordance with the 10% sampling inspection, and the weight is determined according to the net weight of imported goods.

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In previous years, both domestic cotton and imported cotton were sampled according to a certain proportion.

In addition, compared with previous years, domestic cotton only checked the quality and color level of the rolling mill, and imported cotton only tested the quality of the rolling mill, the color level, the length and the micron value.

The domestic cotton inspection indexes include the weight, color, mill quality, length, micron value, fracture strength and length uniformity index. The imported cotton inspection indexes include color level, mill quality, length, micron value, fracture strength and length uniformity index.

Of course, compared with previous years, there are still many bright spots in this year's cotton reserve round out rules, and all the highlights are summed up as follows: meeting the needs of cotton enterprises, increasing the participation of enterprises, ensuring the rights and interests of the auction companies, promoting the healthy and healthy development of the industry, and effectively doing the inventory in the state supply side reform.