EXISTING COTTON SLIDING DUTIES MAY CUSHION EFFECTS OF CHINA’S SLASH TO NEXT YEAR’S IMPORT QUOTA
September 1st, 2014
China, the world’s top cotton consumer - has announced a significant reduction to its low duty 2015 cotton import quota to boost demand for domestically-produced fibre, but experts disagree over whether the policy could pose risks for textile and clothing manufacturers. The reform effectively forces the estimated 10,000 yarn and fabric makers in the country to use Chinese cotton unless they want to pay higher prices for imports. China imported 1.88 million tonnes in the first eight months of this year (2014).A statement made on September 22 by Liu Xiaonan, vice ...
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