Home / Knowledge / News / Textiles / Egypt to benefit from Brazil's cotton import tariff cut
Egypt to benefit from Brazil's cotton import tariff cut
16
Apr '13
The North African country of Egypt would benefit from the reduction in cotton import tariff announced by Brazil’s Foreign Trade Board (Camex) last week.
 
As per the announcement, duty on import of cotton, classified in product codes 5201.00.20 and 5201.00.90 of the Mercusor Common Nomenclature, would be temporarily reduced from the existing 10 percent to zero percent.
 
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 said.
 
Brazil imported 1,120 tons of cotton of both kinds, for which zero-duty would be applicable, in the first two months of the current year. Of this, 319 tons, or about 28.4 percent was imported from Egypt, according to Brazil Arab News Agency (ANBA).
 
In terms of value, cotton imported from Egypt was worth US$ 961,000 of the total imports of US$ 2.2 million made by Brazil during the two-month period.
 
Market analysts predict that the tax breaks would halt increase in cotton prices in Brazilian market, and would benefit exporters like Egypt, as well as apparel manufacturers.
 
Egyptian cotton is among the best in the world and Brazilian textile companies use Egyptian cotton to get higher prices for their products, said Michel Aburachid, president of garment association of Minas Gerais, one of the five Brazilian states that buy cotton, of the two product categories.
 
Egyptian cotton is of long-fibre variety, which is dense, but results in light fabric with a soft touch. The use of this kind of cotton is increasing in Brazil, ANBA quoted Marcelo Prado, director of the Institute of Marketing and Industrial Studies (IEMI) as saying.
 
In 2012, Brazil imported 3,200 tons of cotton of the two kinds that have received tax cut. The imports were valued at US$ 9.3 million. Of this, 622 tons of cotton, valued at US$ 1.8 million, came from Egypt.
 
Besides Egypt, the main suppliers of cotton to Brazil last year were Israel, with US$ 2.6 million, followed by the US with US$ 1.9 million and then Argentina with US$ 1.5 million. Germany, Spain and Turkey were also among suppliers of cotton to Brazil.
 

Fibre2fashion News Desk - India

Must ReadView All

Apparel/Garments | On 28th May 2017

Over 45% US retailers to use AI in next 3 years: Report

Over 45 per cent retailers in the US plan to utilise artificial...

Neelesh Hundekari speaking at the event. Courtesy: Subir Ghosh

Textiles | On 27th May 2017

Fabric of Change initiative announces €250000 scaling fund

The Fabric of Change initiative of Ashoka and the C&A Foundation is...

Apparel/Garments | On 28th May 2017

Naked Brand, Bendon sign agreement to reorganise

Naked Brand Group, a fashion and lifestyle brand, and Bendon Limited, ...

Interviews View All

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Eamonn Tighe
Nature Works LLC

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

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Judy Frater
Somaiya Kala Vidya

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

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

news category


Related Categories:
May 2017

May 2017

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

SUBSCRIBE


Browse Our Archives

GO


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