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NDRC releases cotton import tariff quotas for 2009

14
Oct '08
The National Development and Reform Commission (NDRC) has published 2009 import tariff quotas for grain and cotton, which remain unchanged from the current year.

According to an announcement from the Commission, grain and cotton import tariff quotas for next year will be exactly the same amount as those of 2008.

Experts say that there must be a gap in demand and supply of cotton, but cotton imports this year are expected to be certainly smaller than last year since there is a slowdown in demand from downstream textile and garment enterprises which in turn impacts cotton consumption.

From the overall prevailing trend, demand for cotton is expected to go down in coming months. Cotton prices are also depicting a declining pattern since the beginning of the current year.

It is reported that China is about to harvest a bumper cotton crop in this year and total cotton output is expected to maintain 8,000,000 tons, repeating the record high created last year.

Fibre2fashion News Desk - China


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