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USDA Opens 27,203 MT Cotton Import Quota
WASHINGTON - Mar 11/04 - SNS -- The USDA's Commodity Credit Corporation created a special import quota for upland cotton to take effect March 18, allowing imports of up to 27,202,732 kilograms (124,941 bales) of upland cotton.
This action is being carried out under the authority of PL 107-171, enacted May 13, 2002, which requires that a special import quota be determined and announced immediately if, for any consecutive 4-week period, the U.S. Northern Europe price, adjusted for the value of any cotton user marketing certificate issued, exceeds the Northern Europe price. This condition was met during the consecutive 4-week period ending today.
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