Our Country Adjusts The Tax Rate Of Imported Cotton &Nbsp, And Increases The Tariff Of Cheap Imports.

China has adjusted the import of cotton. tariff Proportions, increasing tariffs on cheap imports, the China Cotton Association said on Friday.

According to the highest price of imported cotton, the maximum tariff of 40% will be raised from 11397 yuan / ton to 14000 yuan / ton, the China Cotton Association said. The import price is higher than 14000 yuan / ton, and will be collected according to the unified tax rate of 570 yuan / ton.

Fu Xiaoyan, an analyst at Nanhua Futures Co., Ltd. Hangzhou "The purpose of this revision is to ensure that cheap imports do not compete with local cotton because imported cotton is cheaper than locally produced cotton," the telephone said.

On the Zhengzhou commodity exchange, cotton futures prices delivered at 10:19 local time in May increased by 1.4% to 20650 yuan / ton. In New York interstate futures exchange, delivered in March. cotton The price rose by 1.4% to 86.29 cents / pound.

China's cotton imports reached 378200 tons in November, almost three times that of a year ago.