Business / Industries

Local harvests give China record cotton reserves

(China Daily) Updated: 2013-01-25 14:40

China, the world's biggest cotton grower and consumer, has amassed record reserves by buying local harvests over the past two years to protect farmers and not to control global markets, a State-run trade group said.

The stockpiling was originally drafted as a temporary backup plan when supply exceeds demand, the China Cotton Association said. The country has bought local cotton since 2011 to ease a plunge in prices and boost farmers' profits.

China Daily - Agencies

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