Home / Knowledge / News / Textiles / Brazil temporarily removes tariff on cotton imports
Brazil temporarily removes tariff on cotton imports
10
Apr '13
The Government of Brazil has temporarily removed the tax on import of cotton for a period of three months from May 1 to July 31, 2013.
 
At a meeting of the Foreign Trade Commission (CAMEX) and the Ministry of Development, Industry and Foreign Trade (MDIC), it was decided to reduce the duty from the existing 10 percent to zero percent on import of cotton, classified in product codes 5201.00.20 and 5201.00.90 of the Mercusor Common Nomenclature (NCM), CAMEX said in a statement.
 
The tariff cut would be valid for a quota on 80,000 tons for import of cotton during the period between May 1 and July 31, 2013, the statement added.
 
Generally, prices of cotton rise in the inter-harvest period that begins with the onset of Southern Hemisphere winter in June. 
 
The aim of the new measure is to avoid interruption in the supply of cotton to the domestic textile and clothing industries during the off-season.
 
Brazilian cotton imports have declined sharply from US$ 932 million in 2011 to US$ 361 million in 2012, according to the data from the Brazilian MDIC.
 
In January-February 2013, Brazil’s cotton imports declined 21 percent year-on-year to US$ 54.2 million.  During the two-month period, the import of cotton from China and Pakistan dropped significantly, while imports from the US rose slightly, and imports from India and Egypt increased sharply.
 
Mercusor free trade bloc comprises of Paraguay, Venezuela, Brazil, Argentina and Uruguay.
 

Fibre2fashion News Desk - India


Must ReadView All

Apparel/Garments | On 26th Sep 2017

US raises annual AGOA quota for textiles

The US Committee for the Implementation of Textile Agreements has...

Textiles | On 26th Sep 2017

Gujarat hopes extended textile policy to attract Rs 5000 cr

The Gujarat government feels that its recent decision to extend its...

Apparel/Garments | On 26th Sep 2017

Cash burn by e-tailers in India may double during festivals

During this year’s festival season, which has already started,...

Interviews View All

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

September 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search