China's Cotton Output to Hit 3 Million Tons in 2000China's cotton output is expected to reach 3.83 million tons in 2000, the same as that in 1999, according to information from the third national congress of the country's supply and marketing cooperative system held Tuesday.An official of the All China Federation of Supply and Marketing Cooperatives also predicted that the quality of cotton produced this year will be better than 1999. The country currently has a cotton-growing area of 3.67 million ha. The cotton-producing regions along the Yangtze River, the Yellow River and in the Xinjiang Uygur Autonomous Region have started to purchase new cotton at the end of August and early September. The official analyzed that China's entry into the World Trade Organization (WTO) will increase the country's textile export, and accordingly stimulate the domestic demand for cotton. However, since China's cotton export subsidy will be erased after WTO entry, foreign cotton will rush into China once the domestic cotton price exceeds the international level, then further intensify the competition on the domestic cotton market. |
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