SPECIAL LIMITED GLOBAL IMPORT QUOTA
FOR UPLAND COTTON
By the president of the United States of America
1. Section 103 (f) ( 1 ) of the Agricultural Act of 1949, as added by Section 602 of the Food and Agriculture Act of 1977 (the Act) (91 Stat. 913, 934; 7 U.S.C. 1444(f) (1)), provides that whenever the Secretary of Agriculture determines that the average price of Strict Low Middling one and one-sixteenth inch cotton (micronaire 3.5 through 4.9), hereinafter referred to as "Strict Low Middling Cotton," in the designated United States spot markets for a month exceed 130 per centum of the average price of such quality of cotton in such markets for the preceding thirty-six months, notwithstanding any other provisions of law, the President shall immediately establish and proclaim a special limited global import quota for upland cotton. A quota, effective from April 3 through July 2, 1930, was placed in effect by Proclamation No. 4742.
2. When a special quota has been established during the preceding twelve months, the amount of the next quota is to be the smaller of twenty-one days of domestic mill consumption of upland cotton at the seasonally adjusted average rate of the most recent three months for which data are available or the amount required to increase the supply to 130 percent of the demand. The quota is to remain in effect for a ninety-day period.
3. The Secretary of Agriculture has informed me that he has determined that the average price of Strict Low Middling Cotton in the designated spot markets for the month of September 1980 has exceeded 130 per centum of the average price of such cotton in such markets for the preceding thirty-six months. The Secretary's determination was based upon the following data:
(a) The average price of Strict Low Middling Cotton in the designated spot markets for the month of September 1980 was 87.1 cents per pound.
(b) The average price of Strict Low Middling Cotton in the designated spot markets for the thirty-six months preceding the month of September 1980 (September 1977 through August 1980) was 62.85 cents per pound.
4. Twenty-one days of domestic mill consumption of upland cotton, which is any variety of the Gossypium hirsutum species of cotton, at the seasonally adjusted rate of the most recent three months for which data are available (June 1980 through August 1980) is 238,633,920 pounds.
5. On the basis of computations made in accordance with Section 103(f) (1) of the Act, a quantity of 261,757,920 pounds of upland cotton is required to increase the supply of such cotton to 130 percent of the demand therefor.
Now, THEREFORE, I, JIMMY CARTER, President of the United States of America, by the authority vested in me by the Constitution and Statutes of the United States of America, including Section 103(f) (1) of the Agricultural Act of 1949, as added by Section 602 of the Food and Agriculture Act of 1977, and in order to establish a special ninety-day limited global import quota for 238,633,920 pounds of upland cotton, do proclaim that the temporary provision set forth in item 955.07 of Part 3 of the Appendix to the Tariff Schedules of the United States is hereby amended to read as follows:
"Item Article Quota Quantity
955. 07 Notwithstanding any other quantitative limitations on the importation of cotton, upland cotton, if accompanied by an original certificate of an official of a government agency of the country in which the cotton was produced attesting to the fact that cotton is a variety of the Gossypium hirsutum species of cotton, may be entered during the 90-day period
November 28, 1980 through February 25, 1981.........................................238, 633, 920
IN WITNESS WHEREOF, I have hereunto set my hand this 24th day of November, in the year of our Lord nineteen hundred and eighty, and of the Independence of the United States of America the two hundred and fifth.
[Filed with the Office of the Federal Register, 10: 39 a.m., November 25, 1980]