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China : Additional cotton import quota sanctioned |
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2006-10-13
China Cotton Association stated that the authority concerned sanctioned additional 700,000 tons cotton import quota to relevant textile firms before October 1, the National day.
The validity of the quota certificate term is up to December 31, 2006, and a floating duty rate is adopted.
To promote the sales of Xinjiang cotton and satisfy the cotton demand from local textile enterprises, authorities designed the policy of “combining Xinjiang cotton quota with import cotton quota and let two quotas go together”.
The textile firms were permitted to obtain the import cotton quota in the amount equivalent to the quantity of Xinjiang cotton they purchased during July 5-August 31, 2006.
It is learned that import cotton prices at ports were about 1500-2000 Yuan per ton lower than home growth in the period of the policy execution. |
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| Fibre2fashion News Desk - China | |
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