USDA PROPOSES TO REDUCE IMPORTED COTTON FEE BY 13.7 PERCENT
The U.S. Department of Agriculture has proposed to reduce its fee assessed on imported cotton and cotton-containing products by 13.7 percent.
The decrease is necessary because U.S. cotton producers received a lower price for upland cotton in 1999. According to the USDA’s rules, the rate on domestic and imported cotton must be similar. Importers paid about $23 million into the Cottom Research and Promotion Progarm last year.
The USDA says it will accept comments regarding the proposed fee change through April 7. The imported cotton fee is expected to be revised by mid-year, the USDA said.