Brazil Seeks 100,000 Tons Duty Free Cotton Exports To India
A team of Brazilian government officials and cotton farmers is visiting India to request and negotiate a 100,000 metric tons import duty free quota of Brazilian cotton to India.
This was informed in a statement released by the Brazilian Cotton Farmers Association (ABRAPA) earlier this week.
ABRAPA added in the statement that the visit would help seal a duty free deal with India, which has imposed 11 percent duty on import of cotton.
If this deal goes through, it will provide a boost to the Brazilian cotton industry which is expected to surpass the US, and become the biggest cotton exporter in the ongoing cotton marketing year.
“Indian cotton output is forecast to drop 7-10 percent in the current season and so duty free export of Brazilian cotton will complement the reduced production,” Celestino Zanella, Abrapa President said.