Cotton price “fixed in three years”, cotton farmers market is taking “reassurance”
On April 14, the National Development and Reform Commission and the Ministry of Finance issued a notice on improving the implementation measures of the cotton target price policy. With the approval of the State Council, the cotton target price policy will continue to be implemented in Xinjiang and implementation measures will be improved.
In the busy season of spring plowing, when land is being prepared for cotton cultivation, and when cotton price fluctuations intensify, the National Development and Reform Commission and the Ministry of Finance timely announced the Xinjiang cotton target price policy, which was well received by the market. Cotton farmers, cotton traders, ginners, and textile enterprises , clothing companies, etc. are delighted, and the market has received a “reassurance”.
According to the reporter of Futures Daily, since the cotton target price policy was implemented in Xinjiang in 2014, it has played an important role in ensuring the income of cotton farmers, stabilizing cotton production, improving cotton quality and promoting the industrial chain. It has played an important role in coordinating development and maintaining stable economic and social operations.
From 2014 to 2016, the state launched a three-year cotton target price reform pilot in Xinjiang. After three years of practice, the cotton target price reform pilot has achieved remarkable results. It has explored a new way for agricultural product prices to be determined by market supply and demand and decoupled from government subsidies. It has achieved strategic adjustments to the national cotton production layout and promoted cotton production and processing. The development of the entire industry chain of , circulation and textile has improved the quality and market competitiveness of domestic cotton, and provided practical experience for the structural reform of the agricultural supply side. What is important is that in order to implement the spirit of the No. 1 Central Document of 2017, with the approval of the State Council, the cotton target price reform will be deepened in Xinjiang starting from 2017. The cotton target price will be changed from “certain in one year” during the pilot period to “certain in three years” in 2017. The target price of Xinjiang cotton from 2019 to 2019 is 18,600 yuan per ton. The subsequent target price of Xinjiang cotton from 2020 to 2022 remains unchanged at 18,600 yuan per ton.
Judging from the content of the notice, the current cotton target price policy framework remains unchanged, and the support remains stable to ensure the basic income of cotton farmers and their enthusiasm for cotton planting. At the same time, policy implementation measures should be improved to stabilize cotton production, promote quality improvement, and ensure the smooth operation of relevant mechanisms. Among them, the main content of improving implementation measures is to stabilize the target price level. The target price level will continue to be determined in accordance with the pricing principle of production cost plus reasonable income. Reasonable income will be determined by taking into account factors such as the development needs of the cotton industry, changes in market conditions, and financial affordability. From 2023 to 2025, the target price level of Xinjiang cotton is 18,600 yuan per ton. If there are major changes in the cotton market situation, it can be adjusted in time after submitting to the State Council for approval. The second is to fix the subsidized output. Taking into overall consideration the cotton production situation in Xinjiang in recent years and the conditions of local water resources and cultivated land resources, Xinjiang cotton will be subsidized with a fixed output of 5.1 million tons. The third is to improve operational measures. The Xinjiang Uygur Autonomous Region and the Xinjiang Production and Construction Corps must focus on improving quality, further make good use of target price subsidy funds, implement quality subsidies on a larger scale, reasonably determine quality subsidy standards, and use “high quality and excellent subsidies” to guide the production of high-quality cotton; take effective measures , actively and orderly promote the withdrawal of Ciyi cotton areas, promote the concentration of cotton planting in production reserves; promote the construction of a unified cotton market in Xinjiang, comprehensively implement mutual recognition of seed cotton transactions, and accelerate the integration of the military cotton market and the convergence of subsidy standards; continue Implement the “professional warehousing supervision + notarization inspection in warehouse” system, and arrange relevant measures to ensure the smooth operation of relevant mechanisms when the market price is higher than the target price; carry out insurance pilots according to local conditions.
The notice requires that all relevant parties should further improve their political stance, strengthen organizational leadership, and jointly implement various measures of the cotton target price policy; it is necessary to establish a cotton quality traceability system to achieve full traceability of production and sales, and to establish and improve cotton The outbound flow information registration system prevents “circling cotton”; it is necessary to continue to carry out publicity and interpretation of cotton target price policies, stabilize cotton farmers’ production expectations, and guide cotton farmers to enhance their quality awareness.
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