The Cotton Board approved Cotton Incorporated's proposed 2007 budget of $78 million on September 7 during the Cotton Board's Annual Meeting in Scottsdale, Arizona.
The allocated budget will now be forwarded to the United States Department of Agriculture (USDA) for final approval.
Throughout the meeting, several industry leaders gave informative presentations updating Cotton Board Members and Alternates about their specialized efforts in the cotton industry – all working on behalf of U.S. cotton.
Cotton Board Chair and Vice President of GlobalSourcing for Sara Lee, Nancy Marino, spoke of the prominent events that occurred during her first term in 2006 including the increased efforts in China and the work to address sustainability. “I feel that Cotton Incorporated's focus on sustainability has been and will continue to be needed,” commented Marino.
“Their collaborative efforts are helping the industry's key players have an invaluable understanding of the facts about U.S. cotton production.”
Concluding her remarks she noted that “since 1967, the Cotton Research & Promotion program has invested over 1.5 billion dollars in the effort to expand markets and improve the profit potential for cotton,” said Marino.
“And now, because of the 2005 record crop and the continued strong assessment income from the import sector, the Cotton Board is in a position to supply an increase in funding, which will provide Cotton Incorporatedwith the necessary resources to boost cotton's position in today's dynamic industry across the globe – especially in China.”
The Cotton Board administers and oversees the Cotton Research & Promotion Program conducted by Cotton Incorporated for America's cotton producers and importers.
marketing@alchempro.com
