Chinese Farmers Hoarding Cotton as Prices Advance, WSJ Reports

Chinese cotton farmers may be stockpiling 1.94 million metric tons of cotton after a jump in prices, the Wall Street Journal reported, citing the government- funded China National Cotton Information Center.

Chinese production last year was 6.14 million tons, the newspaper said. The hoarding is adding to supply uncertainty because India stopped issuing data on use by mills in March, Pakistan’s output data runs on a three-year delay and Uzbekistan releases no export information, the Journal said. Argentina, Brazil and Mexico publish no data on stocks, the newspaper said.

(Source: http://www.bloomberg.com/news/2011-01-29/chinese-farmers-hoarding-cotton-as-prices-advance-wsj-reports.html)