2021 Reserve Cotton Round Out Policy Finalized!
On July 2, China Cotton Reserve Management Co., Ltd. issued an announcement, according to the requirements of relevant state departments and the arrangement of China Grain Reserve Management Group Co., Ltd., in order to optimize the structure of central reserve cotton, ensure good quality and enhance the central reserve control capacity, some central reserve cotton will be rotated in 2021. The rotation arrangement is slightly different from that in 2020:
1. Rotation time. In 2021, the first delivery date of reserve cotton is July 5, 2021, which is 4 days later than July 1, 2020;
2. The number of rounds. First of all, in 2021, the total output of reserved cotton will be 600000 tons, an increase of 100000 tons compared with 2020; Secondly, in 2021, the listed sales volume of reserved cotton is not limited in working days, and in 2020, the listed sales volume is about 8000 tons per working day;
3. Round price. During the period of reserve cotton rotation in 2021, when the cumulative decline of cotton spot price index in the domestic market exceeds 500 yuan / ton for three consecutive working days, the trading will be suspended from the next working day. When the cotton spot price index of the domestic market does not decline for three consecutive working days, the trading will be restarted on the next working day. In 2020, a circuit breaker price will be set for reserve cotton rotation, that is, when the spot price index of cotton in the domestic market is lower than 11500 yuan / ton, trading will be suspended from the next working day; When the cotton spot price index of the domestic market exceeds 11500 yuan / ton for three consecutive working days, the trading will be restarted on the next working day.
For details, please click to read the original
(source: China Cotton Association)
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