USDA's Commodity Credit Corporation announced a special import quota for upland cotton

USDA's Commodity Credit Corporation announced a special import quota for upland cotton

October 15, 2020

The Department of Agriculture's Commodity Credit Corporation 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 October 22, 2020, allowing importation of 5,551,846 kilograms (25,499 bales of 480-lbs) of upland cotton.

Quota number 26 will be established as of October 22, 2020 and will apply to upland cotton purchased not later than January 19, 2021 and entered into the U.S. not later than April 19, 2021. The quota is equivalent to one week's consumption of cotton by domestic mills at the seasonally-adjusted average rate for the period May 2020 through July 2020, the most recent three months for which data are available.

Future quotas, in addition to the quantity announced, will be established if price conditions warrant.