China to Issue Cotton Import Quota of 2.6 Million Tons Recently

It is said that some relevant authorities will issue cotton import quota of 2.6 million tons in 2011 recently, including 894,000 tons of 1% in-tariff quota and 1,706,000 tons of sliding duty quota. The 1% in-tariff quota may postpone properly, while the sliding duty quota is not allowed.

In 2010, the total quota quantities issued by China reached about 3,594,000 tons. At the beginning of July 2010, relevant authorities issued sliding duty quota from 700,000 tons to 900,000 tons through closed measures, while the accumulative cotton imports reached 2,377,000 tons from January to November 2010. Theoretically, there was still a large number of quota quantity left. As the shipping shortage of cotton from the U.S. and the approaching operating time of sliding duty quota of 2010, people from inside industry showed their high expectation of postponing operating time of the import quota of 2010.