In response to volatility during the 2010/11 crop year, China implemented policies to stabilize domestic cotton acreage and prices. This was accomplished by setting guaranteed prices for producers that were far higher than historic averages.
These policies were always meant to be temporary, and the accumulation of cotton into government hands made it unsustainable. Reforms to these policies began in the spring of 2014. Consequences of reforms progressively announced since then have had successive implications for cotton prices around the world.
The purpose of this podcast series is provide the context and details behind recent Chinese policies and reforms needed to understand they have contributed to the evolution in prices.