Cot­ton plant­ing de­creases on la­bor costs, rev­enue

China Daily (Canada) - - BUSINESS -

China pro­duced 6.31 mil­lion tons of cot­ton in 2013, down 7.7 per­cent from the prior year, CNCot­ re­ported Thurs­day, cit­ing cus­toms data. Cot­ton acreage in the world’s top pro­ducer and con­sumer of the fiber has been de­clin­ing sig­nif­i­cantly as la­bor costs rise and farm­ers switch to more prof­itable crops. Chi­nese grow­ers are ex­pected to cut their cot­ton plant­ing by 9 per­cent this year, ac­cord­ing to a sur­vey by the China Cot­ton As­so­ci­a­tion pub­lished this month. rose 10.9 per­cent to 13.97 tril­lion yuan, the Min­istry of Fi­nance said on Thurs­day. Re­ceipts from do­mes­tic value-added tax grew by 9 per­cent last year to 2.88 tril­lion yuan, while do­mes­tic con­sump­tion tax re­ceipts rose 4.5 per­cent to 823 bil­lion yuan, the min­istry said.

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