Presidential Decree No. UP-205 “On additional measures for the further development of free market relations in agriculture.”

The President, in order to further develop free market relations in agriculture, improving relations between cotton textile clusters and producers of agricultural commodities based on market principles, creating a healthy competitive environment in the sector, decrees that that starting from the 2024 harvest: (a) futures contracts for the supply of raw cotton between farms producing raw cotton (producers), and clusters are concluded based on the results of auctions held separately for each region (Republic of Karakalpakstan or the corresponding region) in the "raw cotton section" of the Uzbek Republican Commodity and Raw Materials exchanges within the framework of soil fertility standards; (b) raw cotton grown in excess of the volume required for deliveries under a futures contract, as well as raw cotton produced at the expense of own funds, including raised funds and commercial loans, shall be sold by producers through the exchange to subjects entrepreneurship and/or processed without a conclusion futures contract with the cluster. Wherein: raw cotton grown in excess under a futures contract, can be sold directly to the cluster with which is concluded futures contract; and (c) cotton fiber and secondary products (seeds, lint and motes), - obtained during the processing of raw cotton, shall be sold through the exchange in full.