Cotton Supply and Use Workshop to be Held in China

The China National Cotton Information Center (CNCIC) will hold its Cotton 2011 workshop under the theme, “Estimating Cotton Supply and Use in The 21st Century.” The workshop from CNCIC, which is subordinate to the China National Cotton Reserves Corporation under the State Council, will address the issue of improving systems and methodology of estimating cotton supply and use in major developing cotton economies. The two-day workshop is scheduled for June 21-22, 2011 and will be held in Beijing, China. Representatives of some large producing and consuming countries are being invited to the workshop.

The workshop will provide an opportunity to discuss best practices in estimating cotton supply and use, gathering and evaluating data, and coordinating different sets of data between agencies in the largest producing countries, as well as improving accessibility of the data. The workshop is expected to produce recommendations to national government agencies and industry organizations on how to organize and improve systems of statistical estimation of cotton supply and use.

The outcome of the workshop will be beneficial to the cotton industry as a whole and will serve to improve understanding of the subject matter complexity of statistical estimation of supply and use, and the importance and the ways to improve statistical services to producers and operators of the cotton market. Better data and wider availability of data will lead to reduced price volatility and risks associated with it, will improve credit accessibility and ultimately will result in increased profitability of cotton production by farmers.