Determination of the prevailing world market price and the adjusted world price for upland cotton.

CFR · 2024-01-01 · US · Title 7

(a) CCC will determine the world market price for upland cotton as follows: (1) During the period when only one daily price quotation is available for each growth quoted for Middling one and three-thirty-second inch (M 1 (2) During the period when both a price quotation for cotton for shipment no later than August/September of the current calendar year (current Far East shipment price) and a price quotation for cotton for shipment no earlier than October/November of the current calendar year (forward Far East shipment price) are available for growths quoted for M 1 (3) The upland cotton prevailing world market price determined as specified in paragraphs (a)(1) or (a)(2) of this section is referred to as the “Far East price” (FE). (4) If quotes are not available for 1 or more days in the 5-day period, the available quotes during the period will be used. If no quotes are available during the Friday through Thursday period, the prevailing world market price will be based on the best available world price information, as CCC determines. (b) The upland cotton prevailing world market price, adjusted as specified in paragraph (c) of this section (adjusted world price (AWP)), will apply to crops of upland cotton. (c) The upland cotton AWP will equal the FE determined as specified in paragraph (a) of this section, adjusted as follows: (1) FE will be adjusted to U.S. location by deducting the average costs to market, including average transportation costs, as determined by the Secretar

official document · source cfr-2024 · id 7:§ 1427.25