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Related Keywords: both countries, CAI, CCA, China Cotton Association, cooperation, counterpart in China, dissemination and speedy resolution, information exchange, making cotton trading safer, partnership will go a long way, promote good cotton trading practices, regular exchange of delegations, signed an MoU, The Cotton Association of India, training

The Cotton Association of India (CAI) has signed an MoU with its counterpart in China, the China Cotton Association (CCA) to promote good cotton trading practices and cooperation. The partnership will go a long way in making cotton trading safer in both countries.

According to Nayan C Mirani, President CAI, India and China are the largest cotton economies, and signing this MOU will go a long way in resolving the issues faced by traders in both the countries.

Related Keywords: CCIC, China Cotton Association, Cotton imports plunged, cotton market on Saturday, flow of seed cotton gradually raising daily in-take, maintaining present levels, process of trading, quality is improving, rise in cotton price, sustained buying by mills and spinners

Rise in cotton price was seen on sustained buying by mills and spinners on the cotton market on Saturday, dealers said. According to market sources, sustained demand by spinners and mills did not allow prices to look down, instead maintaining present levels in the process of trading.

The official spot rate was higher by Rs 50 to Rs 6,550, dealers said. In Sindh, seed cotton prices were inert at Rs 3200-3400, in Punjab, Phutti rates were at Rs 3000-3400, per 40 kg, respectively, they said.

Related Keywords: China Cotton Association, Chinese cotton imports demand, CNC cotton report, competition from synthetic fibres, economic slowdown, large domestic inventories, massive domestic stocks, reached all time low, reduced reliance on foreign supplies

Chinese cotton imports demand has just reached 50,900 tonnes an all-time low in September, a decline of 59% year-on-year as large domestic inventories reduced reliance on foreign supplies, at a time when economic slowdown is weighing on demand. This is the lowest monthly import since records began in 2005, and the second month of record low imports in a row, website CNCotton reports.

The data from CNCotton follows reports on Wednesday from the China Cotton Association that Chinese imports for the first nine months of the year fell 42% to 1.16m tonnes.

Related Keywords: China Cotton Association, Cotton policy in China, cotton price in china, May cotton contract, New York cotton futures, reserve building policy

From 1 April, the Chinese government will accept bids as low as 17,250 Yuan a ton for standard-quality cotton in its daily auction. This will be 4.2 percent below the current floor price of 18,000 Yuan, stated China Cotton Association on 24 March. The move will bring the prices closer to world market and make import of fibre less appealing to its domestic mills. It will also release some of the stockpile on the global market.