Cotton Shippers Connect in Aus, Brazil, and the US
The Australian Cotton Shippers Association (ACSA), American Cotton Shippers Association, and Brazilian Cotton Shippers Association (ANEA) have signed a memorandum of understanding (MoU) to advance the global cotton industry. This agreement aims to ensure the long-term economic and social vitality of their respective industries through a collaborative approach to global industry issues.
The MoU was formalized at the American Cotton Shippers Association Annual Convention in Scottsdale, Arizona, on June 14. ACSA chairman Tony Geitz emphasized the importance of working together to lead discussions on policy-making and global supply chains. American Cotton Shippers Association CEO Buddy Allen highlighted the collective goals despite being competitors, aiming to keep cotton the universal fiber of choice. ANEA president Miguel Faus stressed the partnership's goal to strengthen mutual understanding and enhance consumer and policymaker awareness about cotton's positive contributions.
Australia, the US, and Brazil, the top three cotton exporters, are optimistic about the MoU's impact on global cotton uptake. The USDA’s June report increased Australia's 2024-25 export projection to 5.4 million bales and maintained the US and Brazil forecasts at 13 million and 12.5 million bales, respectively. The report also adjusted projections for other regions and increased the forecast for global ending stocks.
