Kazakhstan approves revised cotton industry development draft

Recently, Kazakhstan approved revisions to the draft law on the development of its domestic cotton industry. In the newly revised draft related to cotton issues, content will be added to attract more investment in the cotton industry, increase the enthusiasm of cotton industry market participants, restrict industrial monopoly and its impact on cotton prices.
It is reported that the draft proposes to remove all restrictions on cotton processors, and at the same time, cotton processors should ensure that they can respond flexibly to the needs of cotton farmers and cotton production seasons; cotton processors are allowed to participate in the purchase of raw cotton by mortgaging property, and invest by signing futures contracts. Spring sowing and picking. In addition, the reserve and procurement of raw cotton will also be revised and supplemented in the draft.