CNCRC auctions reserve cotton to counteract soaring prices
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| Women pick cotton in a field in Hami, northwest China's Xinjiang Uygur Autonomous Region, Sept. 26, 2010. Cotton prices on the spot and futures markets in China soared significantly in the past two months. The China National Cotton Reserves Corp. (CNCRC), a state-run company authorized by the government to conduct reserve cotton purchase and sale, announced on Saturday to auction 20,063 tonnes of reserve cotton on that very day, which marked the 33rd reserve cotton auction since August 10. (Xinhua/Polat) |
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| Villager Chen Huaiguang (1st L) weighs the cotton for sale in Zoumaling Village of Weifang, east China's Shandong Province, Sept. 26, 2010. Cotton prices on the spot and futures markets in China soared significantly in the past two months. The China National Cotton Reserves Corp. (CNCRC), a state-run company authorized by the government to conduct reserve cotton purchase and sale, announced on Saturday to auction 20,063 tonnes of reserve cotton on that very day, which marked the 33rd reserve cotton auction since August 10. (Xinhua/Sun Shubao) |
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