Home / Knowledge / News / Textiles / NCC Chairman sees excellent prospects for US cotton

NCC Chairman sees excellent prospects for US cotton

06
Jan '10
National Cotton Council Chairman Jay Hardwick believes that although the U.S. cotton industry still faces many challenges but has excellent prospects for achieving profitable cotton production and processing.

In the opening address at the 2010 Beltwide Cotton Production Conference here today, the Louisiana cotton producer said, “Research, education and technology transfer continue to be critically important. I assure you that the Council will continue its longstanding commitment of its resources for technology development and transfer and bringing resolution to the technology-based priorities.”

Hardwick said he was pleased at how the industry's collective resources – through the NCC -- have been effectively applied to an array of priority issues this past year. Among those, he said were farm bill implementation, trade, emergency disaster assistance and a number of pressing technical issues.

Regarding farm bill implementation, Hardwick said the farm bill's final passage came after more than two years of hard work with pleasing results.

“We were able to maintain the general structure of the cotton program while instituting a more accurate world price formula and providing assistance for the domestic textile industry,” he said. “Storage credits were also continued.”

Hardwick said the new farm law includes: 1) significant changes in program eligibility and payment limits, 2) direct attribution and no three-entity rule, 3) expanded spouse eligibility, 4) removal of limits on Marketing Loan Gains and Loan Deficiency Payments, and 5) means tests on farm and non-farm income.

He said the NCC was very disappointed that USDA's rules included significant changes to the provisions determining a person “actively engaged in farming” and submitted extensive comments to these proposed rules. In response to these comments, USDA recently announced finalization of a Memorandum of Understanding with the IRS to establish an electronic information exchange process for verifying compliance with adjusted gross income eligibility provisions for farm program and conservation program benefits. He said the NCC will monitor this USDA-IRS process that will evaluate program participants' compliance with the Adjusted Gross Income provisions.

Hardwick reported that USDA also announced a less restrictive interpretation of the labor and management provisions of the actively engaged requirements for some entities for 2010. For operations where the total direct payments do not exceed $40,000, only stockholders that have at least 50 percent interest in the legal entity have to make a significant contribution of active personal labor or management. Otherwise, he said the NCC believes the eligibility regulations for 2010 will be unchanged.

Hardwick also reiterated the industry's appreciation of Congressional efforts led by Senators Lincoln (D-AR) and Chambliss (R-GA) to ensure that regulatory changes for 2010 would not further undermine producers' abilities to fully participate in farm programs.


Must ReadView All

Pic: Shutterstock

Textiles | On 14th May 2021

European Commission upgrades EU growth outlook for 2021 & 2022

In its Spring 2021 Economic Forecast, the European Commission has...

Pic: Shutterstock

Textiles | On 14th May 2021

Global 2021-22 cotton consumption highest in 4 years: USDA

Record global cotton supply will drive higher consumption as recovery ...

Pic: Walmart

Retail | On 14th May 2021

Walmart to acquire virtual fitting room platform Zeekit

US retail giant Walmart is acquiring Zeekit, a female-founded,...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

One thing is certain, online sales will go up

Textile Industry, Head honchos

Textile Industry
Head honchos

Consumer sentiment will be conservative after lockdown

Textile Industry, Head honchos

Textile Industry
Head honchos

Verticals like fast fashion won’t completely adopt personalisation on...

David Guiho,

David Guiho

Headquartered in Apt, South of France, Delta Plus designs, manufactures...

Sanjay Jhunjhunwalla,

Sanjay Jhunjhunwalla

In the financial hub of eastern India, Kolkata, a humble production...

Ismail Ajani,

Ismail Ajani

Hollywood Footwear’s story began in 1946 when Jummabhai Ajani started the...

Keith McMillen, Bebop Sensors

Keith McMillen
Bebop Sensors

Bebop Sensors' smart fabrics allows for a new level of interaction between ...

Daniel Roxbury, University of Rhode Island

Daniel Roxbury
University of Rhode Island

Assistant professor Daniel Roxbury and former URI graduate student...

Jacques Prigneaux, EDANA

Jacques Prigneaux
EDANA

EDANA has been the leading global association and voice of the nonwovens...

Seema Gujral, Label Seema Gujral

Seema Gujral
Label Seema Gujral

<b>Seema Gujral</b>'s designs for her eponymous label revolve around...

Sweta Agarwal, A Humming Way

Sweta Agarwal
A Humming Way

A Humming Way (AHW) is inspired by the old-world regalia of Rajasthan...

Suman Nathwani, Suman Nathwani

Suman Nathwani
Suman Nathwani

Designer <b>Suman Nathwani</b> talks about her journey of opening a...

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


May 2021

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


Advanced Search