USDA Announces Special Import Quota #14 for Upland Cotton

DanCotton, Industry News Release

usda-logoThe Department of Agriculture’s Commodity Credit Corporation today announced a special import quota for upland cotton that permits importation of a quantity of upland cotton equal to one week’s domestic mill use. The quota will be established on May 22, 2014, allowing importation of 14,941,776 kilograms (68,627 bales) of upland cotton.

This action is being carried out under the authority of PL 110-246, enacted June 18, 2008, which requires that a special import quota be determined and announced immediately if, for any consecutive 4-week period, the U.S. Far East price exceeds the prevailing world market price. This condition was met during the consecutive 4-week period ending today.

Quota number 14 will be established as of May 22, 2014, and will apply to upland cotton purchased not later than August 19, 2014, and entered into the U.S. not later than November 17, 2014. The quota is equivalent to one week’s consumption of cotton by domestic mills at the seasonally-adjusted average rate for the period October 2013 through December 2013, the most recent three months for which data are available.

Today’s announced quota is established under Presidential Proclamation 6301 dated June 7, 1991, and Presidential Proclamation 6948 dated Oct. 29, 1996, and will be referenced as the Secretary of Agriculture’s Special Cotton Import Quota Announcement Number 14 in chapter 99, subchapter III, subheading 9903.52.14 of the Harmonized Tariff Schedule (HTS). The quota is not divided by staple length or by country of origin, and does not apply to Extra Long Staple (ELS) cotton. The quota identifies a quantity of imports that is not subject to the over quota tariff rate of a tariff rate quota. The quota does not affect existing tariff rates or phytosanitary regulations. Future quotas, in addition to the quantity announced today, will be established if price conditions warrant.