Related Keywords: amount sold represents ninety seven percent, global cotton prices, hit by supply shortage, initiated by China, Recent auction on reserve cotton, sold total seventeen thousand five hundred tonnes of cotton, subdued due to healthy US crop yield, to fuel domestic mill demand, total amount of cotton available, worlds top textile producer
At the recent auction on reserve cotton initiated by China to fuel domestic mill demand where it sold a total of 17,500 tonnes of cotton on Wednesday. The amount sold represents 97 percent of the total amount of cotton available at Wednesday's auction, and was sold at an average price of 12,230 yuan ($1,859.57) per tonne, according to the cncotton.com website.
A total of 23,200 tonnes was sold at an auction on Tuesday, more than 99 percent of the cotton available, at an average price of 12,202 yuan per tonne, according to the website.
