CHINA: China to lower Cotton Import quota to 2.6 million tons in 2011.
China, the world's largest consumer of cotton, will reduce its cotton import quota for 2011 to 2.6 million metric tons, according to a statement published on website of the China National Cotton Information Center.
Egytex News Desk
Source: /www.chinaknowledge.com
The statement said that Chinese regulators will officially release the quota soon.
About 1.71 million metric tons of cotton will be imported under sliding duties, while 894,000 metric tons will be imported under a 1% duty.
In 2010, China issued a total of 3.59 million tons of cotton import quota.
In the first eleven months of this year, China imported 2.38 million tons of cotton, up 81.4% compared with the same period of last year, due to a shortfall in the domestic market caused by a decline in domestic output, China Knowledge reported earlier.
The China Cotton Association estimated that the country's cotton output will drop 2.1% year on year to 6.65 million metric tons in 2010.
Source: /www.chinaknowledge.com
From the Egytex news archive, first published on 29 December 2010. Figures and names are as reported at the time.
