Chinese Import Quotas to Remain Steady
20 September 2011 Sometimes, doing nothing is the best choice, and that’s the approach China has taken regarding its low-tariff import quotas of cotton (as well as wheat, rice and corn) for 2012. The decision was announced by the National Development and Reform Commission, which also said volumes will remain at the same levels as 2011.
That means the import quota for cotton has been set at 894,000 tonnes, according to the announcement posted on the commission’s website (www.ndrc.gov.cn). Before they can import these products, importers need to apply for their desired volume with the commission before Nov 30, 2011. Quotas will then be issued to qualified companies on January 1, 2012.
Import quotas for wheat will be 9.636 million tonnes (90 percent of which will be issued to state-owned companies). Corn import quotas will be 7.2 million tonnes (60 percent allocated to state-owned companies), and rice import quotas will be set at 5.32 million tonnes.
Read more cotton news at the Cotton International website.
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