China issues additional 700,000 T quota for cotton imports in 2021

BEIJING (Reuters) - China's National Development and Reform Commission (NDRC) on Friday said it had issued an additional 700,000 tonnes quota for cotton imports this year, all of which is for non-state traders and will be subject to a sliding scale tariffs system.

The NDRC, China's state planner, had set a quota of 894,000 tonnes for 2021, the same volume as previous years.

The additional cotton quota comes as China strives to ramp up purchases of U.S. farm products under a Phase 1 trade deal.

(Reporting by Roxanne Liu and Meg Shen; editing by Jason Neely)