March 17, 2017 / 3:28 AM / in 9 months

China keeps target price for Xinjiang cotton unchanged for 2017-2019

BEIJING, March 17 (Reuters) - China has set its 2017-2019 target price for cotton in the top growing region of Xinjiang at 18,600 yuan ($2,694.95) a tonne, unchanged from a previous goal, the National Development and Reform Commission (NDRC) said on Friday.

The target price is set every three years but can be adjusted if there are major changes in the cotton market, the state planner said.

China in 2014 started a three-year trial on cotton target pricing in Xinjiang and has decided to deepen reform this year. ($1 = 6.9018 Chinese yuan renminbi) (Reporting by Hallie Gu and Beijing Monitoring Desk)

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