>>
Home / Knowledge / News / Textiles / NCC applauds Cotton Program Implementation by Senator Saxby

NCC applauds Cotton Program Implementation by Senator Saxby

01
Nov '08
USDA has announced the release of regulations necessary to implement the cotton program provisions of the new farm law. Starting on October 31, the calculation of the adjusted world price (AWP) will be made in accordance with adjustments included in the new law, which are designed to ensure US cotton is available at competitive prices in domestic and international markets.

Importantly, the USDA announcement makes clear that the new AWP applies to both 2007 and 2008 crop cotton loans. This will ensure that 2007 crop loans maturing at the end of October can be redeemed at a competitive price and will return up to an additional $8.00 per bale to producers. Beginning October 31, any loan deficiency payments, available to producers who choose to forego the loan, will be based on the AWP as calculated in accordance with the new law.

National Cotton Council of America (NCC) Chairman Larry McClendon welcomed USDA's announcement as good news for producers, warehouses, manufacturers and merchandisers who are struggling to compete in a difficult and volatile market. Vienna, Georgia-based grower Chuck Coley, Chairman of the NCC's American Cotton Producers, said special appreciation is due to Senator Saxby Chambliss (R-GA) for his effective leadership in drafting the legislation, shepherding it through the legislative process and working with the Administration to ensure that the cotton program was implemented in accordance with Congressional intent.

The new law mandates that USDA makes storage credits available whenever the AWP is below the loan. However, to reduce program costs, the new law also required that the maximum storage credit be reduced by 10% for the 2008-11 crops and 20% beginning with the 2012 crop.

The USDA announcement clarifies that the reduced storage rate will not apply to redemptions of 2007 crop cotton. Beginning with the 2008 crop, the reductions will apply to the maximum rate established by USDA in August 2006 and not to individual warehouse rates which significantly reduces any adverse financial impact of cotton warehouses.

The adjustments in the calculation of the weekly AWP were made to enhance competitiveness and the modest projected costs were totally offset by changes in other provisions of the cotton program. The new law also includes an economic assistance program for US domestic textile mills. The regulations approved by USDA will establish the rules for participation in that program.

“Thanks to Senator Chambliss' tireless efforts throughout the process, we have a program that provides the industry an opportunity to be competitive and continue to make a major contribution to Georgia's economy,” Coley added. “Senator Chambliss' advocacy for a regulation that treats Georgia's growers, warehouses, manufacturers and merchandisers in a fair and equitable manner is critical to a robust and competitive cotton industry.”

“The efforts of Senator Chambliss were instrumental in the eventual publication of the rules. In addition, the cotton industry recognizes the key role played by USDA Under Secretary Mark Keenum in the development of the regulation,” noted NCC Chairman McClendon.

National Cotton Council of America


Must ReadView All

Pic: Shutterstock

Textiles | On 19th May 2022

Vietnam needs to shift economic model to reach high-income status: WB

For Vietnam to realise its aspiration for reaching high income status ...

Pic: Shutterstock

Textiles | On 19th May 2022

IPEF to help enhance economic ties with Indo-Pacific nations: US

The Indo-Pacific Economic Framework (IPEF) proposed by the United...

Pic: Shutterstock

Textiles | On 19th May 2022

EU economy grows in Q1 2022, pace slightly slower than Q4 2021

The EU economy continued to grow in the first quarter of 2022, but at ...

Interviews View All

Vandana Narang, National Institute of Fashion Technology

Vandana Narang
National Institute of Fashion Technology

Campus placements are low due to lockdowns

Textile Industry, Head honchos

Textile Industry
Head honchos

Donating 20,000 N95 masks to hospitals & NGOs

Florian Heubrandner, Lenzing AG

Florian Heubrandner
Lenzing AG

Cannot see the world breaking away from cotton & polyester

Alberto Candiani & Simon Giuliani,

Alberto Candiani & Simon Giuliani

Candiani Denim was established in 1938 in a tiny town near Milano and is a ...

Vikash & Vishal Pacheriwal,

Vikash & Vishal Pacheriwal

Launched in 2018, Raisin is a contemporary fusion fashion brand that aims...

T Rajkumar,

T Rajkumar

<div>Confederation of Indian Textile Industry (CITI) being one of the...

Shaan Sethi, Jaanuu

Shaan Sethi
Jaanuu

Jaanuu, a vertically integrated e-commerce company, has reimagined the...

Thomas Ong P S, NanoTextile

Thomas Ong P S
NanoTextile

Malaysian company NanoTextile Sdn Bhd taps into the potentials of...

Hemant Bheda, Arevo

Hemant Bheda
Arevo

Arevo, based in Silicon Valley in California, develops technology to...

Gavin Miguel, Label Gavin Miguel

Gavin Miguel
Label Gavin Miguel

Acclaimed fashion designer <b>Gavin Migue</b>l is known for his couture...

Andre Walker, Label - Andre Walker

Andre Walker
Label - Andre Walker

Andre Walker is a New York-based renowned designer, creative director,...

Sunita Shanker, Label Sunita Shanker

Sunita Shanker
Label Sunita Shanker

Inspired by the rich traditional crafts of India, Sunita Shanker’s work is ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments

ESTEEMED CLIENTS

Splash
Mayer & Cie. GmbH & Co. KG
C;&A Sourcing International Ltd
FULGAR SpA
Centric Software
SYNERGIES HONG KONG LIMITED
Zydex Industries
Rieter India Private Limited
IKEA of Sweden AB
JES MEDIA, INC
G.A.S. unternehmenskommunikation gmbh
Applied DNA Sciences Inc
Tradewind International Servicing
Shima Seiki Mfg. Ltd.
TÜYAP IHTISAS FUARLARI A.S.
Cat Tuong Real Estate Group Joint Stock Company
Etam Group Strategy Hong Kong Limited
Sateri (Jiujiang) Fiber Co.,Ltd
BTC Textiles LLC
Aquarelle Clothing Limited
Helly Hansen Far East Ltd
IIGM Private Limited
Babyshop
BTSR International S.P.A.
Coats Digital Limited
OVS Hong Kong Sourcing Ltd.
CGS Inc.
COTTON COUNCIL INTERNATIONAL
John Varvatos
Comasia Limited
Calvin Klein
Seasalt Limited
The LYCRA Company Singapore  Pte. Ltd
Lululemon Athletica Inc
MAS Active / MAS Kreeda / MAS Bodyline
Alison Hayes Romania
Equinox Impex India
Jindal Worldwide Limited
BIRLA CENTURY A DIVISION OF CENTURY TEXTILES AND INDUSTRIES
Gap International Sourcing Limited
Indo Tex
Abit
EPCH
Truetzschler India Private Limited
Thermore (Far East) Ltd.
Meera Dyestuff Industries
Loris Bellini S.r.l.
Lisa S.P.A.
Lottmann Communications
Flainox S.r.l.
GHCL LIMITED
Datatex Consulting Srl
PVH Corporation
Gloria Jeans
Dow Silicones Corporation
SUZHOU TUE HI-TECH NONWOVEN MACHINERY CO.,LTD
Vardhman Textile Ltd
J ;& P Coats
Grasim Industries Limited
Groz-Beckert East Asia LLP
Tommy Hilfiger
ZAITEX spa
KAS Direct Sourcing
Datacolor AG Europe
Color Service s.r.l.
Istanbul Fuarcilik A.S.
Lifestyle
Green Fibre
Savio Macchine Tessili S.P.A.
Mesdan SPA
Messe Duesseldorf
Lenzing Aktiengesellschaft
Rayonese Textile Inc., Division de Culp Inc.
VNU Exhibitions Asia
Karl Mayer Textilmaschinenfabrik GmbH
NITI Aayog
Boardriders Asia Sourcing Limited
EMBEE CORPORATION
FESPA (Reigate)
Newtech Textile Technology Development (Shanghai) Company Limited
Eurofins BLC Leather Technology Centre Ltd
BIANCA
TESCO INTERNATIONAL SOURCING LIMITED
Sportswear Company Spa
Landmark Group
Maceton Limited
Esprit Europe Services GmbH
Decathlon
Guess Europe Sagl,
TESTEX AG, Swiss Textile Testing Institute
Marzoli Machines Textile s.r.l.
Groz-Beckert KG
Sportmaster Ltd.
Kern – Liebers Textile
Asos
IDH – The Sustainable Trade Initiative
Pt. Peraga Nusantara Jaya Sakti
Tory Burch Hong Kong Ltd
Colours India Inc
Gokaldas Exports Limited
Aramark Uniform ;& Career Apparel, LLC
KIABI
BIMBA ;& LOLA SL
Bluesign Technologies Ag
Infor (Hong Kong) Limited
Sainsbury's Argos Asia Limited
Hela Clothing Pvt Ltd
HYOSUNG CORPORATION INDIA PRIVATE LIMITED
Brandix Lanka Limited
Eastman Chemical Company
BRINKMANN GMBH
CSGIA(China Screen Printing & Graphic Imaging Association)
Haelixa AG
International Sourcing Expo Australia
Zünd Systemtechnik AG
UBM China (Shanghai)
Palexpo SA
GIOVANNI BOZZETTO S.p.A.
Inter Expo Center Ltd.
TEXVALLEY MARKET LIMITED
Desigual - ABASIC, S.A.
Woolmark Services India Pvt. Ltd.
Permoda(Koaj/Armi/Pronto/Bkul)
Reiter India Private Limited
Puma
T.T. Limited
Taiwan Textile Federation (TTF)
Deckers Outdoor (Guangzhou) Consultant Co., LTD.
Itema Weaving (India) Private Limited
ITMA Services Pte Ltd
Thai Trade Center
Alix Partners
IFF Media Ag - International Media Services
Xtema - Thomas Lebherz Textilmaschinen
LC Waikiki
Saurer Textile Solutions Pvt. Ltd.
N9 World Technologies Private Limited
Messe Frankfurt Exhibition GmbH
USTER
Jiangsu Yingyang Nonwoven Machinery Company Limited
Varner AS Retail
Italian Trade Commission
Weitmann & Konrad GmbH & Co. KG
Chico’ FAS
Brückner Trockentechnik GmbH & Co. KG
SHAHI Exports Pvt Ltd
Midas Clothing Limited
H. Stoll AG & Company KG
The LYCRA Company Singapore  Pte. Ltd
Lenzing Aktiengesellschaft - India
Chori Company Limited
H;&M Hennes ;& Mauritz (Far East) Ltd
GERBER TECHNOLOGY LTD.
Bluestem Global Sourcing Limited
DyStar India Pvt. Ltd
Hirdaramani International Export Private Limited
Nandan Denim Limited
EUROVET ASIA LTD
Lectra Technologies India Pvt Ltd.
K AND D ITMACH EXPOSITIONS LLP
APLF Limited
Aleph Srl
X-Rite Asia Pacific Limited (HK)
Gatsby Africa
NV Michel Van de Wiele
Stahl Holdings B.V.,
Shanghai  Aige Exhibition Service Co., Ltd
China World International Exhibition Company Limited
Arvind Limited
International Textile Manufacturers Federation
Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)
Restoque S.A.
Page Industries Limited (Bangalore)
Vianney Textil Hogar S.A. De C.V.
Copenhagen Fashion Summit
Benetton Group
The Top Form Brassiere Manufacturing Company Limited
Nihalani Events Management
DuPont de Nemours, Inc.,
Performance Days
Recron Polyester from Reliance Industries Limited
Tchibo GmbH
Lacoste (Wanchai)
Kornit Digital Asia Pacific Ltd
Rosset ;& Cia Limited
Tuyap Tum Fuarcilik Yapim A.S.
Recron Polyester from Reliance Industries Limited
Phong Phu international JSC (PPJ)
Under Armour Global Sourcing Ltd
Officina Meccanica Dora Enrico Srl
G-Star Raw C.V.
Target Corporation (MN)
Indofil Industries Limited - Specialty & Performance Chemicals Division
THE BOMBAY DYEING ;& MFG.CO. LTD
Huntsman (Singapore) Pte Ltd
Amazon China
Thai Acrylic Fibre Company Limited
Walmart

May 2022

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search