China to restrict 2015 cotton import quota to meet WTO requirement: NDRC

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China will limit its 2015 cotton import quota to the 894,000 tonnes agreed in its commitments with the World Trade Organisation (WTO), an official at the National Development and Reform Commission said on Monday.

China, the world’s top consumer of cotton, has in the past years issued several thousand tonnes of import quota in addition to the volume agreed under the WTO terms.

The change in policy will hurt major exporters such as the United States where Chinese demand has played a key role in influencing fibre prices.

– India Times

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