Kuitun: Agricultural Development Bank of China’s Agricultural Development Bank of China provides a loan of 55 million yuan to help 10,000 acres of cotton produce enough grain and grass
Recently, the Xinjiang Kuitun Branch of the Agricultural Development Bank of China was approved for a working capital loan of 55 million yuan for agricultural production materials, which meets the needs of Xinjiang Jinmian Seed Industry Technology Co., Ltd. (hereinafter referred to as “Jinmian Seed Industry Company”). The demand for reserve funds for production materials will provide a strong guarantee for next year’s spring plowing production. So far, 45 million yuan has been invested.
This year, affected by multiple factors such as tight supply of raw materials and rising prices, price increases in the international market, and increased periodic demand, the “short storage and high utilization” of agricultural production materials has had a great impact on Jinmian Seed Industry Company, which has a 10,000-acre cotton seed breeding base. Said it is extremely important. Jinmian Seed Industry Company is a modern seed industry enterprise integrating crop seed research and development, good propagation production, processing, sales and agricultural technical services. There are 4 stable ecological experimental bases and 1 good ecological experimental base in the Seventh Division of the Corps and surrounding areas. Traditional experimental demonstration base, as well as 6 ginning plants and 19 machine-picked cotton processing production lines, with an annual processing capacity of 220,000 tons of lint cotton, and the cotton planting area of the 7th Division of the Radiation Corps 2.1 million acres of high-quality cotton planting area with a total output of 800,000 tons of seed cotton. In addition, Jinmian Seed Industry Company is also responsible for the storage of agricultural materials for the Seventh Division of the Corps, which is related to the sustainable and healthy development of the cotton industry next year and has a heavy responsibility.
It is understood that as the main bank supporting the development of the cotton industry, the Kuitun City Branch of the Agricultural Development Bank of China has established a good cooperative relationship with Jinmian Seed Industry Company. After learning that Jinmian Seed Industry Company has a need for agricultural input reserve funds, the Agricultural Development Bank of China Kuitun Branch The municipal branch immediately arranged for personnel to go to the enterprise to understand the situation. Based on full research and based on the needs of agricultural production materials with a cost of 1,500 yuan per mu and a reserve of 40,000 acres of land, the financing amount was determined, a financing plan was formulated, and loan approval and approval were completed with high quality and efficiency. It is planned to support enterprises in purchasing 21,200 tons of agricultural inputs and fertilizers such as urea and potash fertilizers.
The loan will effectively help enterprises alleviate financial pressure in the development process, reserve sufficient “grain and grass” for local cotton production next year, and effectively safeguard the interests of cotton farmers.
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