Shandong's 14 Billion Yuan Fund Supports New Cotton Acquisition

Reporters learned from the Shandong branch of the Agricultural Development Bank of China, to ensure that New cotton In a steady acquisition, Shandong, a major cotton producing province this year, has raised 14 billion yuan of funds to fully support the purchase and sale of cotton and leading processing enterprises to enter the market and protect the interests of the vast majority of cotton farmers.

Shandong is one of the main cotton producing areas in China, and its sown area and output rank among the highest in the country. According to the prediction of Shandong's agricultural sector, the cotton planting area in the province is about 11 million 500 thousand mu in 2010, and the total output is estimated to be 800 thousand tons. The cotton planting area and output of the province decreased compared with last year. cotton The gap between production and demand will further expand, and cotton prices may continue to run high.

To ensure New cotton The acquisition of enterprises' funds in full and in full supply, and the Shandong branch of the agricultural development bank to raise funds in various ways, has raised 14 billion yuan in the new year's cotton purchase fund, and will give priority to the support of enterprises and enterprises with large scale and dynamic effects, such as "company + base + farmers" and cotton cooperatives, and large scale circulation enterprises with strong risk resistance, high market participation, stable marketing channels, and key enterprises such as good management and good reputation in the market to participate in the market acquisition, guarantee the stability of the acquisition market and meet the needs of cotton enterprises.

In order to facilitate the sale of cotton by farmers, as early as August this year, the Shandong branch of the Agricultural Development Bank of China has made loan qualification confirmation for 155 enterprises in accordance with the terms of purchase and access. Basically, 50 main cotton producing counties (cities and districts) have credit support enterprises to enter the market or set up spot purchase, so as to ensure that there is no blank point for the purchase of funds. At the same time, we should actively guide cotton farmers or brokers to use non cash settlement methods such as online banking and credit cards, so as to ensure farmers' "cotton hands and money".

According to statistics, in the 2009 cotton year, the Shandong branch of the Agricultural Development Bank issued a total of 11 billion yuan of cotton purchase loans to 150 enterprises, effectively ensuring the smooth purchase of cotton and the demand for cotton in the textile industry.