Today, the Biden Administration announced that it will invest more than $14 billion in funding for over 500 projects across the United States and associated territories. According to the fact sheet, the investment will include “$8 million to improve commercial navigation and allow larger and more ships to pass at the Port of Long Beach, California – part of the nation’s largest port complex. The investment will support design work to widen the port’s main channel, deepen the entrance channel, and build an approach channel and turning basin. It also builds on the $52 million grant the Administration previously announced to support the Port of Long Beach’s on-dock rail facility, as well as a multi-billion dollar loan agreement with California to modernize the state’s ports, freight, and other goods movement infrastructure.”
On January 5th, ACSA President/CEO Buddy Allen presented at 2022 Beltwide Cotton Conference on the logistical challenges that the cotton industry is currently facing. Mr. Allen presented on the current realities of the supply chain but provided encouraging comments about still achieving the USDA projected export number. He stated, “We do believe we’re going to get there, but it’s going to take a big shift in shipments going forward to meet our export goals.” Delta FarmPress’s Ginger Rowsey discussed the presentation in her January 19th article.
On January 6th, ACSA President/CEO Buddy Allen and ACSA’s Transportation, Documentation, and Insurance Committee Chairman Michael Symonanis discussed the challenges faced by all links in the cotton supply chain. The article states, “The cotton export industry is primed for growth, and the logistics industry must solve the current supply chain challenges in preparation for volumes expected to exceed historical highs.”
From December 8th through December 10th, China held its 2021 Central Economic Work conference in Beijing. See the link below for more details on the topics highlighted in the conference.
Today, House Agriculture Committee Chairman David Scott (D-GA) wrote a letter to the U.S. Department of Agriculture Secretary Tom Vilsack requesting a portion of USDA funding be allocated to help merchandisers of U.S. cotton. The American Cotton Shippers Association is very grateful for Chairman Scott’s continued support in our efforts to provide COVID-19 relief to our members.
Yesterday, the U.S. Commodity Futures Trading Commission held a meeting of its Global Markets Advisory Committee to hear presentations and provide dialogue on U.S. Treasury market issues. Conversations focused on recent stresses in markets and market reforms to prevent future stresses.
On October 25th, ACSA along with 18 other agricultural associations wrote a letter to Senator Debbie Stabenow, Chairwoman of the Senate Agriculture, Nutrition, and Forestry Committee and Senator John Boozman, Ranking Member of the Senate Agriculture, Nutrition, and Forestry Committee, expressing our support for Rostin Behman to be Chairman of the Commodity Futures Trading Commission.
Following the votes from all Committee for International Co-operation Between Cotton Associations (CICCA) members, William H. “Buddy” Allen, ACSA President/CEO, was elected as CICCA Chairman and Atif Dada, Karachi Cotton Association President, was elected Vice Chairman. Buddy looks forward to using this platform to share ACSA initiatives with other cotton trade associations with a goal of broader adoption.
See the update below for a comprehensive review of the reconciliation process.
On August 11th, ACSA leaders including Buddy Allen of American Cotton Shippers Association, Michael Symonanis of Allenberg Cotton Co., Donna Lemm of IMC Companies, and Neely Mallory of Mallory Alexander International Logistics participated in a Federal Maritime Commission Memphis Supply Chain Stakeholder Meeting led by Commissioner Rebecca Dye. Over 100 stakeholders participated in the meeting including FMC Chairman Dan Maffei, Surface Transportation Board (STB) Chairman Martin Oberman, STB Board Member Patrick Fuchs, and key Congressional staff. In the meeting participants share testimony regarding supply chain congestion in the Memphis marketplace and the impact on their companies. Following that, Buddy shared a potential legislative solution by creating an interoperable, grey pool pilot in Memphis. Meeting summary below. Whitepaper created by the Memphis Supply Chain Innovation Team that discusses the problem and potential solution can be found below.