Rising Cotton Prices Affecting China Supply Chain
A “rapid” increase in cotton prices during the past few weeks has sparked anxiety across China’s cotton industry supply chain and likely will result in intervention from Beijing, the U.S. Department of Agriculture Foreign Agricultural Service reported Oct. 8. The…
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country likely will announce an “additional batch of sliding-scale cotton import quota” to be allocated to relevant enterprises, USDA said, adding that steps the government uses to “replenish state reserves” could affect China’s cotton imports. The rising prices have particularly impacted the Xinjiang region, USDA said, which produces the majority of the nation’s cotton and has been accused of using forced labor.