The Biggest Highlight Of This Year'S Round Is The Bottom Price And The Public Inspection Standard.

In order to digest the state reserve cotton inventory in an orderly way, the reserve scale will be adjusted to a reasonable level. This year, the reserve cotton rotation not only improved the operation mode, but also improved the efficiency of reserve control.

There are still many bright spots in this year's reserve cotton round out rules, compared with previous years, and all the highlights are summed up in one sentence: meeting the needs of cotton enterprises, increasing the participation of enterprises, ensuring the rights and interests of the auction companies, promoting healthy and healthy development of the industry, and effectively eliminating inventory in the state supply side reform.

About the state

The announcement of the relevant arrangements for the rotation was also released. At the same time, the national cotton trading market, China cotton reserve management corporation, and China Fiber Inspection Bureau separately formulated the "2015/2016 annual national cotton reserve round out paction method", "the implementation rules for the national cotton reserve warehousing in 2015/2016" and the implementation method of the national cotton reserves' circular inspection in the year of 2015/2016. If we look closely at the detailed rules issued by the three departments, we will find many bright spots.

In order to digest the state reserve cotton inventory in an orderly way, the reserve scale will be adjusted to a reasonable level. This year, the reserve cotton rotation not only improved the operation mode, but also improved the efficiency of reserve control.

Compared with previous rounds, the biggest highlight of this year's round is the bottom price and the public inspection standard.

In the past years, basically, the state set up a market based on prevailing market conditions.

And the fixed price will be used throughout the whole period.

The advantage of doing so this year is that the downstream enterprises can easily auction the right price lint and enhance the enthusiasm of the bidding enterprises.

In 2016, the sale price of the national reserve cotton (discount standard grade 3128) will be adjusted once a week based on the domestic and international cotton prices. The formula is as follows: the average price of cotton spot price index in the domestic market last week, the weighted average 50%+, the average price of the spot price index in the international market last week, the average weight is 50%.

The selling base price is calculated according to the quality difference table published by China Cotton Association.

Besides the price, the way of public inspection is also a highlight.

This year, the rules for the implementation of the national reserve cotton outgoing warehouse stipulate that the domestic cotton produced in this year will be subject to 100% public inspection (quality index package inspection and batch inspection of weight index). The difference between quality and weight will be sold in accordance with the re notarized inspection results within the allowable range.

The quality inspection of imported cotton is in accordance with the 10% sampling inspection, and the weight is sold according to the net weight of imported goods.

In previous years, both domestic cotton and imported cotton were sampled according to a certain proportion.

In addition, compared with previous years, domestic cotton only checked the quality and color level of the rolling mill, and imported cotton only tested the quality of the rolling mill, the color level, the length and the micron value.

The domestic cotton inspection indexes include the weight, color, mill quality, length, micron value, fracture strength and length uniformity index. The imported cotton inspection indexes include color level, mill quality, length, micron value, fracture strength and length uniformity index.