December Report from Yuan and Associates

  • December report from Yuan and Associates including 2019 YTD.
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  • In December, Madam Gao Fang was promoted to President of China Cotton Association. 
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  • We have recently been in contact with by the Cotton Quality Supervision Division of State Administration of Market Regulation (SAMR) of China.  The Cotton Division is a newly established division after China’s government reshuffle in 2018. Their focus is on domestic cotton quality supervision, while the Department of Commodity Inspection of GACC remains in charge of the import inspection of cotton. Although they are not directly involved in imported cotton quality control, China’s future policy is to adapt same quality requirements and standards for both domestic and imported cotton, therefore, they are keen to learn the advanced experiences from the US cotton industry. One direct link with the imported cotton is that the division is responsible for the measures and guiding the government-run testing for the cotton to be put into the national reserves.

According to Yuan and Associates, we believe they are “nice-to-have” government allies for the US cotton in the long run. Sharing our experiences and expertise in cotton quality control framework and policies will enable the US cotton industry to have more influence if/when the division reviews and updates domestic requirements.

They will be sending a 2-4-person delegation led by their Director General to the 2020 ACSA Convention.  As we get closer, we will build specific time and agenda for the ACSA Board of Directors to engage with them.

More Advocacy Issues

On April 14, 2021, Memphis stakeholders wrote a letter to Chairman Oberman of the Surface Transportation Board expressing the need for assistance in resolving the current inland rail crisis affecting importers, exporters and motor carriers in the area. See the full letter below. Click Here

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On March 15, 2021, Mississippi State University published the expected PLC payments for the 2020 year. Please see the link below for more information. Click Here

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The link below provides an overview and key takeaways from the Senate Banking Committee hearing to consider Gary Gensler to be a Member of the U.S. Securities and Exchange Commission (SEC). Click Here

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The National Cotton Council provided a cotton specific summary of the Quality Loss Adjustment Program and examples. See below. Click Here

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Yesterday, the Senate Agriculture Committee held a hearing to consider the nomination of Tom Vilsack to be Secretary of Agriculture. Click below for details from the hearing. Click Here

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China Policy and Market Update

January 29th, 2021

In December, China imported 1,629,083 bales (354,691 MT) of cotton, representing an increase of 80.43% month-on-month (m/m), and an increase of 130.9% year-on-year (y/y). The total value was USD $588.82 million, representing an increase of 89.33% m/m, an increase of 117.21% y/y. In 2020, Chinese cotton imports totaled 9,912,346 bales (2,158,159 MT), an increase of […]

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