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USDA Issues Correction for Recent Special Cotton Import Quotas #21, #22

The U.S. Department of Agriculture's June 30 (see 1607010024) and July 7 (see 1607080014) upland cotton special import quota announcements mistakenly did not "recognize that the U.S. Far East price did not exceed the prevailing world market price during the…

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consecutive 4-week period," the USDA said in a news release (here). "When this condition (for any consecutive 4-week period, the U.S. Far East price exceeds the prevailing world market price) is met again in the future, a Special Import Quota announcement will be issued," it said.