Ministry Of Commerce Releases National Reserve Factory Silk To Stabilize Market Expectation

Since May, the executive meeting of the State Council has been paying close attention to the rise of commodity prices and raw material prices, and has made plans to ensure supply and price stability and reasonably guide market expectations. In order to implement the requirements of the executive meeting of the State Council and stabilize the market price of raw silk, the Ministry of Commerce made a decision to put the reserve silk in public, and issued the announcement on putting the national reserve factory silk on May 31.

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Since this year, raw silk prices have continued to rise. According to the data of China's cocoon and silk trading market, Grade 3A raw silk rose to 449700 yuan / ton at the beginning of January to 449700 yuan / ton at the end of May, causing heavy burden on downstream processing enterprises. The national regulation and control of raw silk reserves plays a "wind vane" role in the market price of raw silk. After the release of the announcement, the price of raw silk immediately fell. On June 11, the average transaction price of 3A grade raw silk was 437700 yuan / ton, which was 2.7% lower than that before the announcement.

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According to enterprises in the industry, the timing of the supply of reserve silk is good, which plays a role in curbing the obviously abnormal raw silk price. It is also in the period of intensive regulation and control of national bulk commodities, which helps to balance the relationship between supply and demand, stabilize the confidence of the industry, and solve the problem of the rapid rise of raw silk prices since this year.

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The Ministry of Commerce will continue to pay close attention to the effect of this launch and the subsequent market situation changes, take necessary regulatory measures in due time, protect the reasonable interests of sericulture farmers, stabilize the enterprise and market expectations, and maintain the healthy development of cocoon and silk industry.

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