Trade Mission Brings Vietnamese Textile Executives to U.S. Cotton Belt
July 18, 2018 Textile executives representing 11 companies from Vietnam will get a first-hand look at how U.S. cotton adds value to their products during a tour across the U.S. Cotton Belt on July 22-26.
This COTTON USA Special Trade Mission is coordinated by Cotton Council International (CCI), the export promotions arm of the National Cotton Council (NCC).
Vietnam is now the world’s second largest cotton fiber importing country and currently the largest market for U.S. cotton. U.S. export sales commitments to that country are approximately 3.3 million bales for the 2017-18 marketing year, with 930,000 bales already committed for the 2018-19 marketing year.
CCI President Ted Schneider, a Louisiana cotton producer, said this trade mission will heighten these important customers’ awareness of U.S. cotton fiber’s quality, sustainability, transparency, and premium value; and facilitate face-to-face sessions between U.S. cotton exporters and the 14 participating textile executives from Vietnam.
“This event not only should generate additional sales of U.S. raw cotton, but also strengthen our exporters’ relationships with these important Asian customers,” Schneider said.
Overall, mills in Vietnam are expected to import 7.7 million bales in 2018-19, with the companies represented on trade mission expected to import 41% of those bales (about 3.2 million).
During the tour, the Vietnamese delegation will begin with a CCI briefing and an ICE Futures seminar in New York, see cotton research in North Carolina, tour the USDA cotton classing office in Bartlett, TN, and visit a cotton farm, gin and warehouse in South Texas.
The group will also meet with exporters in the Cotton Belt’s four major regions and with 11 key industry organizations – AMCOT, American Cotton Producers, American Cotton Shippers Association, Cotton Incorporated, Lubbock Cotton Exchange, the NCC, Plains Cotton Growers, Inc., Southern Cotton Growers Association, Texas Cotton Association, Western Cotton Shippers Association and Supima.
Information provided by Cotton Council International
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