Tianjin Cotton Spot Electronic Trading Platform Opens
Tianjin Bohai Mercantile Exchange Xinjiang cotton spot
Electronic trading platform
The platform was officially opened in November 22nd. The platform will provide spot trading services for the production and sale of cotton in various parts of Xinjiang and production and Construction Corps.
The paction mode will create an open, pparent and low-cost spot for domestic and intra cotton enterprises.
Trade
The platform is also the first electronic platform for continuous trading of cotton in Xinjiang.
Xinjiang's cotton planting area, output per unit area, total output and output have ranked first in the country for 18 consecutive years.
The cotton spot trading platform launched by the Bohai mercantile exchange is based on the cotton produced in Xinjiang as the benchmark of quotation. It reflects the important position of Xinjiang cotton in the spot market of cotton. It has a very important practical significance for increasing the regional brand effect of Xinjiang cotton, and is conducive to promoting Xinjiang cotton's right to speak and pricing in the international market.
The spot trading of cotton has changed the pricing mode of traditional cotton spot trade. Cotton enterprises and textile enterprises have achieved direct docking in the exchange system to complete sales and procurement, thereby reducing the circulation of intermediate trade and reducing production.
Management
Cost, Xinjiang cotton enterprises will be directly beneficiaries.
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