The Government of Egypt has announced imposition of safeguard duty on cotton and blended fabric imports for a period of 200 days beginning this month.
The temporary duty will be applicable at a rate of 10 percent of the CIF (cost, insurance and freight) price, subject to a minimum of E£ 333 (US$ 55) per ton.
In January this year, the Egyptian Government imposed a safeguard duty on cotton yarn imports.
Subsequently, there has been a sharp two to three times increase in the volume of imports of cotton and blended fabrics, which formed the basis for the latest decision of the Government.
Fibre2fashion News Desk - India
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