CCI's Strengthening Enduring Partnerships for textile mill executives
18 Nov '06
2 min read
One of the largest ever contingents of global cotton purchasing power convened here this week to attend the 2006 Sourcing USA Summit.
The event is coordinated by Cotton Council International (CCI), the National Cotton Council's export promotion arm. Held November 16-19 under a theme of “Strengthening Enduring Partnerships,” the event was organized to provide textile mill executives with management/trend information and networking opportunities that can drive their cotton businesses forward.
The Summit attracted some 190 international cotton buyers from 28 countries. Data collected by the NCC on 72 percent of those buyers revealed that group's total cotton consumption to be about 18.4 million bales.
“To put that into perspective, the cotton consumption of less than three-fourths of the expected Summit participants represents 6.2 million bales more than were represented by all participants at CCI's 2004 Summit,” said NCC Chairman Allen Helms.
“This same group also consumes about 8.8 million bales of U.S. cotton – and is customers of some 55 percent of expected 2006 U.S. cotton exports.”
The data also shows that 28 percent (of the 72 percent of participants data were available on) are vertically integrated organizations -- they spin, knit and/or weave and participate in apparel production and/or retail activities. Those 29 percent account for 92 percent of all the U.S. cotton consumption represented at the Summit.
“This group of global cotton buyers represents a huge opportunity,” said CCI President David Burns, a Laurel Hill, N.C., cotton producer.
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