The Xinjiang Cotton Association and the Production and Construction Corps have recommended to the government that a support mechanism be established for Xinjiang cotton. The proposed plan would call for the China National Cotton Reserve Corps to step in and procure cotton when the free market procurement price falls below 14,000 yuan per ton. The reserve stocks should be auctioned when the local price exceeds 15,500 yuan per ton, which is the equivalent of 92.92 to 102.00 U.S. cents per pound. The scheme appears to be gaining momentum, given the volume of Xinjiang cotton still unsold this season.

Source：Globecotnews