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India extends duty-free cotton imports by two months to ease domestic prices
MUMBAI: India has extended duty-free cotton imports by two months until the end of December, the government said, a move that could lower costs for textile mills, ease domestic prices and boost shipments from the US, Brazil and Australia. India, the world’s second-largest cotton producer after China, waived the 11% import duty on cotton from June 1 to October 31 to boost supplies during the lean season. Domestic cotton prices typically ease as new-season supplies arrive in October, but have remained firm this year due to concerns about lower production after patchy monsoon rains, prompting tex...
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