China's National Development and Reform Commission (NDRC) has taken action to provide a brief window in which Chinese mills may import cotton at a slightly lower tax rate. As rumored, the NDRC will allow mills to import cotton during the June 5 to October 5 period at a sliding-scale rate of 3 to 40 percent versus the current 5 to 40 percent, which will provide mills with a 213 yuan per ton break in import taxes.
