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500 Thousand Tons Of Xinjiang Cotton Arrived In The News, With The Announcement Of The Bureau Of Grain And Material Reserves And The Announcement Of The Ministry Of Finance.

2019/11/15 10:20:00 0

State Bureau of grain and materials reserve
Announcement of the Ministry of finance of the People's Republic of China (No. third 2019)

In order to strengthen the management of central cotton reserves, further optimize the reserve structure and improve the quality of reserves, we decided to turn in some new cotton. The relevant matters are announced as follows:

First, turn in time.

National statutory working days from December 2, 2019 to March 31, 2020.

Two. Quantity arrangement

The total amount is about 500 thousand tons, and the daily auction is about 7000 tons.

Three. Turn in mode

The rotation work is carried out by the China Grain Reserve Management Group Limited (hereinafter referred to as "China grain storage group company"), and it is publicly traded through the national cotton trading market.

Four. Round in price

The maximum price of the bid price (to the library price) is determined dynamically according to the market conditions, and it is linked to the domestic cotton spot price in principle, and a certain proportion is adjusted to a weekly adjustment. During the round of rotation, when the price difference between inside and outside cotton is worse than 3 yuan per day for 800 consecutive days, the transaction will be suspended. When the difference between the inside and outside cotton price drops to less than 800 yuan / ton, restart the transaction. The central grain storage group and the national cotton trading market will uniformly announce the maximum price and the difference between inside and outside cotton prices. (the specific formula is attached)

Five. Quality requirements

The imported cotton is produced in 2019/2020 and has been included in the sawtooth cotton with professional supervision of Xinjiang cotton. It requires that each batch of color grade white cotton 1, 2, 3, 28mm and above, micron value level B and above, and the breaking strength is medium or higher. The specific quality requirements are announced separately by China grain storage group. Cotton packing should be wrapped outside cotton cloth and conform to the national standard of cotton packing (GB6975-2013).

Six. Related provisions

1. after Xinjiang cotton was sent to the reserve point, the Chinese Fiber Quality Monitoring Center organized the notarization test, and adopted the spot cutting method and the 100% inspection method, that is, the package inspection, and issued the inspection certificate of quality and weight. If the results of the public inspection do not meet the requirements for storage, they shall not be used as central reserve cotton stores.

2. the China Grain Storage Group Co., in conjunction with the national cotton trading market and the China fiber quality monitoring center, has formulated detailed rules for the implementation of the reserve cotton rotation, auction trading, notarization inspection and so on.

3. in the process of Xinjiang cotton rotation, if the domestic and foreign cotton market has undergone major changes, according to the needs of market regulation and control, the State Grain and material reserve bureau will make necessary adjustments to the rotation arrangements with other departments.

Notice hereby.

Enclosure: Calculation formula of central reserve cotton rotation price To be careful

To talk about

State Grain and material reserve bureau, Ministry of Finance

November 14, 2019