Cotton Fairs and Orientation Tours Develop Business for U.S. Cotton

USA Cotton Sales of $1.2 Billion Expected from Summit

cotton field

In November 2022, nearly 350 business leaders from 30 different countries attended the Sourcing USA Summit in Aventura, Florida. At this biennial event, which was cancelled in 2020 due to the COVID-19 pandemic, Cotton Council International (CCI) convenes international cotton executives and representatives from the U.S. cotton industry for a series of presentations and networking events. Combined, the participating mill companies consume 17 million bales of cotton per year, representing 43% of global cotton imports.

During the Sourcing USA Summit, which is funded in part by the Market Access Program (MAP) and U.S. industry contributions, buyers are educated on the advantages of U.S. cotton. The U.S. Cotton Trust Protocol®, which is the leading standard for sustainable cotton production backed by quantifiable and verifiable data, and COTTON USA SOLUTIONS®, the world’s leading cotton consultancy, are both featured as part of the Summit’s Business Program. At the 2022 event, CCI also introduced participants to the COTTON USA Mill Performance Index (MPI), the newest addition to its COTTON USA SOLUTIONS® services. The MPI collects data from spinning mills around the world and measures mill productivity across five key cost drivers, which allows mill owners to see how they compare to their peers and how using U.S. cotton can benefit them. Following the Summit, eight mills signed up to join the MPI.

Participants who attended the Summit expect to purchase an additional 2.8 million bales of U.S. cotton, valued at approximately $1.2 billion.

Cotton Fairs and Orientation Tours Develop Business for U.S. Cotton 1Fast Facts

U.S. cotton faces several challenges in the world market including competing growths,
competing fibers, and most importantly price. Often, U.S. cotton sells at a premium compared to other growths and manmade fibers, which translates into a competitive disadvantage for U.S. cotton. Additionally, while U.S. cotton has a reputation as a high-quality input, many mills do not understand how that translates into benefits and added value that justifies the price premium for U.S. cotton. After attending the Summit, 92% of participants agreed the Summit provided information on the global cotton industry that will help their companies better prepare for the future and 76% of mill participants agreed the Summit educated or convinced them of the advantages of U.S cotton versus alternatives.

Sustainability Spotlight

In a period of ever greater supply chain scrutiny and a growing demand for transparency and traceability, The U.S. Cotton Trust Protocol® sets a new standard for more sustainably grown cotton. Participating brands and retailers gain access to U.S. cotton backed by year over year data to help them demonstrate their environmental credentials.

 

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