The China National Cotton Reserves Corporation (CNCRC) said (on Jul 23,2007) that China's cotton sales had jumped to 6.05 million tons by July 18, up 48.4 percent from the same period last year.

A survey conducted by the CNCRC showed 6.46 million tons of cotton had been processed during the same period, up 18.4 percent, while 6.51 million tons was purchased, up 17.8 percent.

The survey found the price of cotton had stabilized due to increased supply with the selling of the state cotton reserves since July 16, following continued rises over previous months as textile manufacturers increased cotton stocks.

China is the largest cotton producer in the world and turns out more than six million tons of cotton a year.

Source: Xinhua