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Last cotton import quotas to be issued, soon!
30 May '07
3 min read
It is learned that the state will issue 1.1 million tons cotton import quotas under slide tariff by the end of May. It should be the last time for the state to issue cotton import quotas for the current year.
The annual quota project totals 3.494 million tons, of which 894,000 tons are under 1 percent tariff, 1.5 million tons are issued against slide tariff in April.
However, now, it is not quota restriction but import price that impacts cotton imports. Due to the presence of slide tariff, foreign cotton has lost price advantage.
This year, the state has issued 2.394 million tons of cotton import quotas, but by the end of April cotton imports only amounted to 720,000 tons. Textile enterprises still hold large quantity of unused quotas.
The annual quota project totals 3.494 million tons, of which 894,000 tons are under 1 percent tariff, 1.5 million tons are issued against slide tariff in April.
However, now, it is not quota restriction but import price that impacts cotton imports. Due to the presence of slide tariff, foreign cotton has lost price advantage.
This year, the state has issued 2.394 million tons of cotton import quotas, but by the end of April cotton imports only amounted to 720,000 tons. Textile enterprises still hold large quantity of unused quotas.
Fibre2fashion, News Desk - China
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