THE AUSTRALIAN Cotton Shippers Association (ACSA), the American Cotton Shippers Association and the Brazilian Cotton Shippers Association (ANEA) have signed a memorandum of understanding designed to advance the global cotton industry.
This agreement recognises the positive contributions of the production and consumption of cotton to global economic development and supply chains.
The goal is to ensure the long-term economic and social vitality of their respective industries in the countries they represent through a collaborative approach to global industry issues.
The memorandum was signed and formalised at the American Cotton Shippers Association Annual Convention in Scottsdale, Arizona on June 14.
ACSA chairman Tony Geitz said the merchant communities that make up the three organisations “and indeed the wider cotton communities they represent, welcome the opportunity to work as one”.
“We aim to lead discussions around policy making and global supply chains to ensure cotton remains in high demand,” Mr Geitz said.
President and chief executive officer of the American body, Buddy Allen, said the MoU recognises the collective goals of all three organisations.
“We are the fiercest of competitors, but as producers of the best cotton grown in the world, we come together to ensure that cotton remains the universal fibre of choice,” Mr Allen said.
ANEA president Miguel Faus said the partnership aims to establish dialogue to identify issues of shared interest, strengthen mutual understanding, and provide opportunities for the exchange of ideas and information.
“We are excited to develop areas and methods of cooperation with the aim of building stronger awareness among consumers and policymakers about the positive contributions of the production and consumption of cotton in global markets,” Mr Faus said.
The group hope their efforts in coming together will have a positive impact on the global uptake and use of cotton, which it sees as have unparalleled environmental and health benefits, making it a sustainable and preferred option when compared with synthetic fibres.
Uptick in Aus exports
Australia, the United States and Brazil are the top three cotton exporters in the world.
USDA’s World Agriculture Supply and Demand Estimates report for June released last week increased Australia’s 2024-25 projected exports at 5.4 million bales, up 100,000 bales from the May estimate.
The US and Brazil forecasts for the cotton-shipping year starting August 1 remain unchanged from May at 13Mb and 12.5Mb respectively for 2024-25.
WASDE increased Central Asian exports by 50,000b from May to 1.36Mb, while the combined estimate for the African nations of Benin, Burkina Faso, Cameroon, Central African Republic, Chad, Cote d’Ivoire, Mali, Niger, Senegal and Togo is unchanged at 4.9Mb.
The June report cut projected exports for India to 1.9Mb, down 100,000b from the figure forecast in May.
WASDE’s June report has lifted its forecast for 2024-25 global ending stocks to 83.49Mb, up 480,000b from the May figure. while ending stocks for the world less China are seen at 42.56Mb, up 580,000b from May.
Source: Australian Cotton Shippers Association, WASDE
Source: graincentral.com