The US and China MoU will promote cotton from both countries

The US and China MoU will promote cotton from both countries

The National Cotton Council (NCC) in the US has signed an agreement with the China Cotton Textile Association (CCTA) to jointly promote their cotton and try to combat the growing competition from synthetic fibres. 

The Memorandum of Association, signed on a recent visit by an NCC delegation to Beijing, will allow for the sharing of information with the Chinese textile industry on the US cotton sector. Both will explore opportunities to jointly promote their cotton and fibres. 

"We were pleased to gain a better understanding of the challenges facing the Chinese cotton industry, which traditionally has been a strong importer of US raw cotton," said NCC chairman Shane Stephens. "I believe this mutual exchange of information solidified our relationship with this important consumer of US cotton and provided an opportunity to demonstrate the US cotton industry's continued commitment to meeting the needs of our customers."

In Beijing, delegation members heard presentations from the CCA, the CCTA and the China National Textile and Apparel Council regarding current challenges facing the cotton market. 

The visit was the seventh US cotton industry delegation to China since the US-China Cotton Leadership Exchange Program was set up by the NCC and the China Cotton Association (CCA) in 2006. 

Last week, projections from the International Cotton Advisory Committee (ICAC) showed that a fall in world cotton stocks at the end of the current season would likely result in forecasts for global cotton prices edging up slightly in 2016/17.

Global cotton prices seen edging up