India is expected to extend duty-free cotton imports for another two months through December, three government and industry sources said, in a move that could cut costs for textile mills, curb domestic prices and boost imports from the US, Brazil and Australia. India, the world's biggest cotton producer after China, waived the 11% customs duty on cotton imports for five months from June 1 through October 31 to boost supplies during the lean season. Domestic prices usually ease when new-season arrivals begin in October, but have remained firm this year amid lower output prospects, prompting mills to seek a longer duty-free import window. After the completion of inter-ministerial consultations, the government is expected to issue an order soon extending the duty exemption at least until December end, said the sources familiar with the matter. (ICE NEW DELHI)

Fonte notizia: Economic Times