China sets floor price at 15,118 yuan per tonne on cotton reserves auctions

BEIJING: China’s cotton industry website cncotton.com said on Saturday:

China will set floor price at 15,118 yuan ($2,388.88) per tonne on its cotton reserves auctions from March 12-16.

The National Development and Reform Commission (NDRC), the country’s state planner, said last November that China would hold a round of cotton auctions from March 12, 2018.