US cotton industry is resilient and always rises to the challenges it faces. Nothing that faces the US cotton industry today will be its demise. Ingenuity, leadership, creativity, research and dogged determination will prevail and allow US cotton industry to adapt and thrive against its most ardent challengers, as has been witnessed over the last several centuries.
Current challenges with water, competitive crops, domestic, global politics and the ever-increasing global population will force the industry to adapt and overcome. The amount of arable land globally is probably not going to grow, and if so, it will come at the potentially catastrophic costs of losing other valuable resources such as rain forests and similar high value real estate in developing nations. Of the current arable land available globally, competition for food crops will only continue to rise.
Cotton industry along with other agricultural crops will continue to need to find ways to move on the efficiency of our advanced farming operations even further to try to keep pace with the continuously growing global demand.
Moreover, please emphasize further concerning issues related to global cotton market?
The biggest challenge to cotton in a global market continues to be perception of the brands and retailers for their consumers and the belief that they will only be shoppers at ever decreasing price points.
This vicious circle came full circle in 2008 and 2009 when marketing departments had pushed expectations for global consumption for cheap product past the breaking point. Moreover, reaction was violent and result was equally impactful with the destruction of demand, jobs and companies. The deflationary price model that apparel and home textiles has been on is simply not sustainable.
Besides, efficiency of scale and volume has run the gamut and apparent advances in manufacturing efficiency have been reached with current technologies. Other costs such as the human cost, energy, infrastructure, investment and capital to name a few are not going to get any cheaper in the foreseeable future.
As such, much of the global cotton industry's future and success rests in the hands of brands and retailers and their ability to again imagine their businesses and to focus again on quality as well as return value of product to make them desirable for ownership rather than a fleeting whimsy of ultra thin margined and over supplied bulk products.
What are your objectives and future scenario for Supima? Please interpret.
Our primary objective is to generate demand for the Pima products made by our textile and retail partners. Both our growers and partners need a healthy demand for Pima, in order for a profitable business.
More and more, generating demand is about engaging directly with the end consumer. Consequently, you will see, we are working more closely than ever with its brands and retail partners to ensure the visibility and success of their Supima products. Their success is how we measure our own.
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