Page 2 - Cotton Imports

Rains, pests force world's top cotton producer India to import supplies

This confluence of extreme weather events brought on by climate change has sent cotton prices soaring by as much as 30%

FinMin extends duty exemption on raw cotton imports till October 31

The finance ministry has extended the exemption of customs duty on raw cotton imports by a month till October 31. On April 14, the ministry had given exemption from the duty and Agriculture Infrastructure Development Cess (AIDC) till September 30, 2022, for import of cotton to lower prices in the domestic market. In a notification dated July 4, the ministry extended this till October 31, 2022. Amid rise in cotton and yarn prices, the textiles ministry had been pitching for an extension of the duty waiver beyond September. Industry too had been demanding extension of the duty-free import of cotton. Before April 14, raw cotton imports attracted 5 per cent Basic Customs Duty (BCD) and an equal percentage of AIDC. The exemption from duty would benefit the textile chain -- yarn, fabric, garments and made-ups -- and provide relief to consumers. Cotton prices have increased from Rs 44,500 per candy in February, 2021, to Rs 90,000 per candy in March 2022. Each candy weights 356 kilogram.

Duty waiver will ease supplies, may not help cotton prices: Industry

Group representing farmers protests government dropping customs duty on imports, calls it disastrous

FinMin waives customs duty on cotton imports till September 30

Currently, cotton imports attract 5 per cent Basic Customs Duty (BCD) and 5 per cent Agriculture Infrastructure Development Cess (AIDC)

India's cotton output set to jump 14%, exports to remain steady: Trade body

India saw its highest monsoon rainfall in 25 years during the June-September season and rains even continued in October and November.

Cotton import may rise 80% this year due to drought in major growing states

Quality of output is another nagging issue, as the raw cotton produced this year cannot be used by spinning mills

Cotton imports to surge by 80% as output hits 9-year low: Report

The country could import 2.7 million bales in 2018/19 marketing year ending on September 30, up from 1.5 million bales a year ago, he said.

Pakistan's senate wants ban on Indian cotton imports

Punjab has already asked the federal government to announce the intervention price.