Chinese cotton buyers are buying up Australian product in anticipation the unofficial ban that decimated Australian cotton exports to China could lift amid a diplomatic thaw that has already seen trade resume in other sanctioned commodities.
Australian cotton is being shipped to a bonded warehouse in Qingdao and possibly one other location, by the Australian subsidiary of China National Cotton Group Corporation, one of the biggest state-owned Chinese cotton buyers, CNCGC Australia merchant Tom Zheng told Reuters.
