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Finance Ministry cuts import duties on cotton
May '08
The Ministry of Finance, China, has announced a change in import duty rates on 26 varieties of goods and cotton is one of them.

Duties on cotton imports have been reduced from between 5 percent to 40 percent imposed earlier to between 3 percent to 40 percent from June 5 to October 5.

However, this cut in cotton import duties will be restored to its original on the expiry of this period.

This Governmental measure will help enormously in bridging the gap in cotton supply until new crop comes in for this season.

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