From USA-ITA OFF THE CUFF for May 3, 2013
There’s no doubt that cotton is “the fabric of our lives,” and remains one of the most important fibers for USA-ITA members. However, there’s also no doubt that cotton faces challenges—especially as polyester and other man-made fibers are on the rise. On April 18th, USA-ITA President Julia K. Hughes attended an invitation-only event titled “Meeting Cotton’s Competitive Challenges” hosted by the International Cotton Advisory Committee (ICAC) at the Embassy of Switzerland.
According to ICAC, “analysts reported at the 71st Plenary Meeting that polyester now dominates the global fiber market, with cotton’s share continuing to decline.” During the April 18th meeting, ICAC indeed presented data that, despite growth in world cotton mill use, there is nonetheless expected to be a continuing decline in cotton’s share of worldwide fiber consumption. Much of this discussion centered on the impact of polyester and man-made fibers on the demand for cotton, but there are also other issues to consider, such as rising costs, shifts in consumers’ spending, and shifts in consumers’ views about cotton.
The four big issues covered during the day were:
$11. The importance of sustainability,
$12. The impact of price volatility, which is mainly due to speculation,
$13. The benefits of standardization, and,
$14. The importance of content labeling.
The conclusion? ICAC can play a role as an effective voice and advocate for cotton on the global stage, particularly in spreading the word that cotton is a natural, sustainable fiber.
The full summary of the presentations is available for download here. If you would like to see more details about any particular presentation, please let us know.
And, if you’re particularly interested in an update on the cotton market and other cotton issues, we encourage you to register ASAP for our seminar on May 14th with Cotton Incorporated!
