The United States Department of Agriculture’s (USDA) Agricultural Marketing Service (AMS) has released a direct final rule amending the Cotton Board rules and regulations concerning imported cotton. The value assigned to imported cotton and the cotton content of imported products will be decreased to the same valuation as cotton subject to producer assessments, according to Southwest Farm Press.
This amendment is required each year to assure that assessments collected on imported cotton and cotton content will be the same as those paid on domestically produced cotton.
Valuation adjustment is based on average prices during a previous 12-month period and reflects price movements. Prices were weaker last year, so this rule adjusts the valuation of cotton content downward.
This rule is effective Aug. 25, 2014, without further action or notice, unless significant adverse comment is received by July 28, 2014. Comments may be submitted through the Federal eRulemaking Portal at http://www.regulations.gov.