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ICAC Committee welcomes Government of Peru
Sep '11
The International Cotton Advisory Committee (ICAC) met in Buenos Aires, Argentina during September 4-9, 2011 for its 70th Plenary Meeting since the establishment of the Committee in 1939. Participation was 495, including representatives from 39 governments and 7 international organizations. The Committee welcomed the Government of Peru as its newest member.

1. The Secretariat reported that world cotton production is expected to increase in 2011/12, encouraged by the extraordinary rise in cotton prices to more than double the previous record that occurred during 2010/11. The Secretariat reported that cotton mill use is recovering from the steep decline during the global recession, and world cotton trade is rising with increased consumption. The Secretariat cautioned that stocks are estimated to rise during 2011/12, indicating a decline in cotton prices.

2. The Committee noted that price volatility had been record high in 2010/11 and that volatility imposes costs on all segments of the cotton value chain. Countries agreed that stronger national efforts to gather and report statistics on cotton production, consumption and stocks would enhance transparency and provide additional information for decision making. The Committee instructed its Secretariat to continue to analyze and report to governments on excessive speculation, defaults on contracts for trade in cotton, and other causes of cotton price volatility, including adoption of trade distorting measures by governments. The Committee recommended using metric measures tostandardize statistics on cotton.

3. The Committee heard from experts on the subject of technology development and transfer. There was agreement that technology plays a central role in productivity enhancement. The role of the private sector in developing commercially viable technologies was applauded. The Committee agreed that the public sector has a crucial role to play in providing regulation and in facilitating technology development and extension, especially for small and medium sized producers. Cooperation between private and public sector researchers in an efficient research system is essential.

4. The Committee agreed that farmers' associations, organizations and cooperatives can increase access to inputs, improve marketing efforts and strengthen the voices of farmers. The keys to the success of farmers' organizations include strong and stable leadership, transparent and democratic governance, and voluntary membership with farmer ownership and control.

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International Cotton Advisory Committee (ICAC)

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