International Cotton Advisory Committee Research Articles

Worldwide cotton production and trade during COVID-19 pandemic: An empirical analysis for a three-year observation

The COVID-19 pandemic has posed a significant impact on agriculture. Due to its importance in world trade and human life, the effects of the pandemic on the cotton economy were evaluated by using the data of important organizations such as the U.S. Department of Agriculture, the World Trade Organization, and International Cotton Advisory Committee in this study. With the Chow test, which measures of structural breaks, the effects of COVID-19 on cotton production and trade were examined. According to the Chow test results, the pandemic had no significant effect on cotton production, exports and imports in the People’s Republic of China and Türkiye, while being highly influential on cotton production and exports in the U.S. and Brazil. Distinctively, in Pakistan, it had a significant impact on cotton production and import. It was observed that although the demand, trade and prices for cotton were descended, the cotton prices started to recover with the increase in demand in the third quarter of 2020. In June 2022, the highest peak in cotton prices was observed. As a conclusion, it is shown that cotton production and trade during the pandemic were affected in all countries except People’s Republic of China and Türkiye. However, the marks of the effects of factors such as decreasing stocks, uncertainties in national economies, high inflation and increase in production costs on the cotton economy will be better understood in the coming years.

FEATURE STRUCTURE OF A COTTON LEAF AS A MECHANISM OF PROTECTION AGAINST INSECT PESTS

According to the International Cotton Advisory Committee, Uzbekistan accounts for about 4% of all cotton produced in the world and 10%of world exports. At the same time, cotton makes up 45% of all Uzbek exports. But besides the purely commercial meaning, "white gold"has always had a huge cultural significance for Uzbekistan. Cotton is a strategic agricultural crop, as after processing it is used in thechemical, light industry and many other industries. Currently, legal documents are being adopted at the national level to solve the problemof crop rotation in the cotton industry and the necessary mechanisms are being developed for their implementation. In addition, in the systemof insect control in cotton fields, the issue of resource conservation is very relevant, since by reducing harmful insects it is necessary toachieve a reduction in resource costs in terms of increasing (or not reducing) the quantity and quality of the cotton crop. Protection of plantsfrom pests by various methods is widely used in world agricultural production. At the same time, according to the FAO, the losses ofagricultural products in the world still remain quite high and reach 30% of the volume of the world crop. To solve the problem of crop safety,extensive and systematic scientific and practical work is being carried out to improve and develop methods and means of plant protection inagriculture to prevent harm caused to plants by pests, diseases and weeds. In this regard, the purpose of this work was to establish thecorrelating structural features of the leaves of wild representatives of the genus Gossypium L with economically valuable traits. 19representatives were studied, among which were 7 parental species and 12 hybrids of their first generation. As a result, signs were establishedthat correlate with drought resistance and tolerance to insect pests.

The impact of public and semi-public information on cotton futures market

ABSTRACTThis study estimated the impact of all major public and semi-public reports on the cotton futures market from 1995 through 2012. The estimation was based on the event study approach with the events measured by the release of five major reports: Export Sales, Crop Progress, World Agricultural Supply and Demand Estimates (WASDE) and Prospective Plantings (public reports from US Department of Agriculture) and Cotton This Month (semi-public report from International Cotton Advisory Committee). The best-fitting IGARCH(1,1)-t model that accounted for the day-of-week, seasonality and stock levels was used to measure the report effects on daily nearby cotton close-to-close futures returns. Prospective Plantings and WASDE reports appeared to be the most important sources of information in the cotton markets moving the conditional standard deviation of returns by an average of 14.4 and 9.6 percentage points, respectively. However, significant market reaction was not found for the other three reports. Our analysis revealed that, in the presence of clustering, ignoring the impact of other reports would have resulted in about 18% overestimation of WASDE impact.

International Cotton Advisory Committee

The International Cotton Advisory Committee has been one of the main bodies involved in the regulation of cotton trade and export since it was established in 1940. In addition it plays an important role in monitoring and providing information about current trends in world markets.

International Cotton Advisory Committee

The 21st plenary meeting of the International Cotton Advisory Committee (ICAC) took place in Washington from May 9 to May 23, 1962. In the Committee of the Whole, attention was given to the world supply and demand situation, government actions affecting cotton, and steps needed for the further advance of the world cotton economy. A statement, prepared by a working group headed by Mr. Edouard J. Senn (France), developed from the discussions of the committee, presented the following observations, among others: 1) The overall statistical situation in raw cotton remained strong. Acreage had risen to a new peak; cotton consumption was at a record high level; there had been a reasonable degree of price stability in world cotton markets; and most countries would probably dispose of the bulk of their exportable supplies. World stocks were likely to decline to their lowest level since 1953. The committee recognized, however, that the over-all reduction in cotton stocks in the period under review had been brought about mainly by reason of partial crop failures in certain countries and that, with normal yields in these countries, the relationship between supply and demand could well have been reversed. 2) Cotton consumption continued to break new records with each successive season, but undue optimism had to be tempered by an awareness of the intense competition from the manmade fibers which had brought about a decline in cotton's share of the total textile market. 3) The profit margins of cotton textile manufacturers, as well as of producers, were also limited by rising costs and by the highly competitive nature of the textile industry. 4) In the opinion of the committee there was no doubt that the restriction of acreage in the United States had been a major factor in the orderly liquidation of the cotton surplus and in the return to a better balance between world cotton supply and demand. 5) The committee noted with considerable interest the statement of the United States delegation that attention was currently being given to a number of plans to introduce a greater element of freedom in the manner of cotton production and to reduce or eliminate the differential between domestic and export prices in the United States. 6) The committee also welcomed the reassurance by the United States delegation that in formulating its cotton policy the United States would always have in mind the interests of other nations and seek to avoid any dislocation of the world cotton market.

International Cotton Study Group

The twentieth plenary meeting of the International Cotton Advisory Committee (ICAC), Which was held in Tokyo from May 10 through 23, 1961, was attended by delegates from 34 member states and from nineteen nonmember countries. Mr. E. D. White, chairman of the Standing Committee, commented in presenting its annual report that 1960–1961 had been a good year for cotton, with production at a new high and consumption well sustained. The cotton surplus of former years had been reduced to more manageable proportions, he added, with the result that in many cases prices had become more favorable for producers. He stressed the importance of keeping under study factors that might influence the long-term prospects of cotton. The Executive Secretary of the Committee, Mr. Robert Evans, noted in his annual report that there had not been any agreements to stabilize cotton prices and markets for a number of years. While United States stabilization of its own markets and prices had done much to stabilize those of the rest of the world, it could also be argued that changes in United States policy had upset the world market.

International Cotton Advisory Committee

A meeting of the Special Subcommittee of the International Cotton Advisory Committee (ICAC) on extra-long staple cotton was convened in Alexandria, Egypt, on September 7, 1959. Delegations were present from the principal extra-long staple cotton-producing countries (the Sudan, the United Arab Republic, and the United States), along with observers from Brazil, Peru, the International Bank for Reconstruction and Development, and the Food and Agriculture Organization. Mr. Abd El Latif Ezzat, Under-Secretary of State for Cotton Affairs of the Ministry of Economy of the United Arab Republic, was elected chairman, and Mr. Robert B. Evans, executive secretary of ICAC, served as secretary. The meeting adjourned on September 12 after eight sessions. Its agenda was devoted to a consideration of production plans and policies, pricing and export policies, and steps needed to encourage consumption.

International Cotton Advisory Committee

In May 1960, it was announced that coffee export quotas, amounting to 7, 600, 000 bags of 132 pounds each, and adding 1, 302, 040 bags to the previously agreed annual quotas totaling 32, 650, 000 bags, had been fixed for the second quarter of 1960 by the directors of the International Coffee Agreement. For the full year, export quotas for eleven members had been revised upward, under a provision of the Agreement tying exports to the production estimates of the United States Department of Agriculture. Under the current revision, Brazil had been granted the largest quota —4, 139, 000 bags—and Colombia, the second largest—1, 417, 000 bags—each being permitted to export more than the quota assigned, should the world market require more coffee.

International Cotton Advisory Committee

The eighteenth plenary meeting of the International Cotton Advisory Committee was held in Washington, May 14–22, 1959. Governments from 34 countries were represented as members and 24 attended as observers; representatives from ten international organizations were also in attendance. Eight resolutions were adopted by the plenary meeting, the first four of which were concerned with budgetary matters. The fifth dealt with the future work program and instructed the secretariat to prepare a statement on government regulations on cotton and a report on harsh short staple cotton; the secretariat was also instructed to keep under review the extra-long staple cotton situation, to investigate the possibility of a similar survey on long staple cottons, and to provide as much information as possible on the effect of competition from the Soviet Union, communist China, and eastern Europe on world markets for cotton and cotton textiles. The sixth resolution drew attention to the present surplus situation of extra-long staples and indicated the desirability of convening a special meeting to examine the problems of this commodity with attention to production plans and policies, price and export policies, and steps needed to encourage consumption.

International Cotton Advisory Committee

The seventeenth plenary meeting of the International Cotton Advisory Committee was held in London June 2–8, 1958. Following discussion of a document on recent developments in the world cotton situation prepared by the standing committee and the secretariat's annual review of the world cotton situation, the meeting made the following statements. The world production of cotton during 1955–56 was an all-time record of 42.7 million bales; the production during 1956–57 was reduced to 41.3 million bales. Although there was an increase in production outside the United States in 1957–58, the reduction of about 2 million bales in the United States brought world production down to 39.3 million bales. The consumption of cotton exceeded production by about 1 million bales during 1956–57 and the current year's estimates pointed to a further disappearance of about 2 million bales in excess of current production. Delegates discussed cotton production in the United States, noting the drastic decline in production due to a reduction of acreage and, to a smaller extent, unfavorable growing conditions, the responsible and careful manner of surplus stock disposal, and the advantages which would follow from a lowering of the domestic cotton price. During the discussion reference was also made, inter alia, to the undesirable effects of dual pricing systems, export subsidies, and special currency arrangements.

International Cotton Advisory Committee

The International Cotton Advisory Committee held its fifteenth plenary meeting in Washington, D. C, from May 8 through 17, 1956, under the chairmanship of Mr. Marvin L. McLain (United States). Sixty-two governments were represented, 32 as members of the Committee and 30 as observers. The Committee received a report from the Standing Committee on the present world cotton situation and the Secretariat's annual review, heard statements by member countries and observers, and held an extensive discussion of the world cotton situation, in which it attributed the present imbalance between supply and demand and the consequent build-up of world cotton stocks to the 1) existence of relatively high cotton prices, 2) marked improvement in cotton production techniques, and 3) economic progress in a number of underdeveloped countries, bringing new areas into cotton production. The conference felt that changes in United States government policy would lead to an improvement in cotton's competitive position and would offer some disincentive to uneconomic cotton production. At the same time, the Committee warned against any sudden or substantial decline in cotton prices which would adversely affect the economies of both producing and consuming countries. Finally, the Committee stressed the unsettling effect on world markets of uncertainty regarding the future level of cotton prices. With respect to the price question, the Committee recommended reasonable short-term stability to facilitate orderly distribution of crops and longer-term price flexibility to permit adjustments in cotton supply and demand.

International Cotton Advisory Committee

The fourteenth plenary meeting of the International Cotton Advisory Committee was held in Paris, France from June 20 through 25, 1955 under the chairmanship of Mr. Edouard J. Senn (France). Delegates from 30 member countries and observers from 18 countries and from 5 international organizations attended the meeting. Portugal announced its accession to the Committee effective July 1, 1955, bringing the total membership to 32 governments. The Committee heard reports from its officers, and a review of the world cotton situation and statements on the cotton situation in the various countries. Fifteen resolutions were adopted at the meeting, of which the first six related to the finances and organization of the Committee. In the other resolutions adopted the Commission inter alia: 1) provided for the continued publication of the Monthly Review and the Quarterly Statistical Bulletin, and authorized the Secretariat to publish a base book of cotton statistics as one issue of the Quarterly Statistical Bulletin; 2) stressed the importance of the statistics requested by it from member governments and asked members to review the availability of statistical information in their countries and to take steps to meet any deficiencies; 3) requested that, in addition to statistics already sent it by member governments on production, exports, imports, and prices of rayon and other synthetic fibers, there be added statistics on consumption, and in compiling such statistics, the Committee requested the Secretariat to make use of those already collected by other organizations;4) emphasized the importance of harsh short staple cotton to consuming countries, and requested that the attention of countries exporting this cotton be drawn to the desirability of increasing export availability and production wherever possible; 5) stressed the growing importance of laboratory testing of the fiber properties of commercial cottons, and requested the Secretariat to continue to maintain contacts with other organizations interested in fiber testing, while the standing committee was requested to consider what action, if any, the International Cotton Advisory Committee might appropriately take in this field; 6) requested the standing committee to examine the policies of governments in regard to the consumption of cotton and of competing fibers, and to submit a report on the matter to the fifteenth plenary meeting; and 7) paid tribute to Dr. Arthur W. Palmer, former General Secretary of the Committee and to Dr. Paolo N. Rogers, former vice- chairman of the Committee.

International Cotton Advisory Committee

The thirteenth plenary meeting of the International Cotton Advisory Committee was held in Sāo Paulo, Brazil, from June 7 to 16, 1954. Senor Garibaldi Dantas (Brazil) was Chairman of the meeting. Representatives from 25 member governments and observers from 15 other governments and from three international organizations were in attendance. The Committee heard reports from its officers and a review of the world cotton situation and statements on the cotton situation in various countries. Seventeen resolutions were adopted. The first five related to the financial affairs of the Committee including the budget for 1954–1955; others: 1) asked the Secretariat to make preliminary inquiries of technical and research bodies regarding comparative information on fiber properties of commercial cotton; 2) suggested that governments should consider action to encourage an increase in world consumption of cotton; 3) asked governments to submit information regarding the results of technological research on the properties and utilization of cotton and the organization and financing of agencies conducting such research; 4) invited the attention of national and international organizations to the fact that the most effective and lasting way of increasing cotton consumption was to raise the standard of living in underdeveloped areas; 5) asked the Secretariat to secure information on new and improved products of and uses for cotton; 6) asked governments to consider an international cotton welfare program outlined in a report on expanding world cotton consumption; and 7) asked the Secretariat to continue providing information on the use of synthetic fibers.

International Cotton Advisory Committee

The second session of the twelfth plenary meeting of the International Cotton Advisory Committee was held in Washington from November 2 to 12, 1953. The first session, held in Washington from May 4 to 5, 1953, had been concerned with budgetary matters and the exchange of information. Representatives of 28 members of the committee as well as observers from 24 non-member governments and six international organizations were present at the second session which considered a technical study proposing three possible types of international cotton agreements: 1) a multilateral contract, under which quantitative quotas and minimum and maximum prices for each importing and exporting country would be established; 2) a buffer stock agreement, which would also set floor and ceiling prices for cotton and under which there would exist buffer stocks, held by member governments or by an international agency which would be built up in times of surplus and drawn on in times of shortage; 3) a combination of 1) and 2). The meeting failed to agree on any of these, and referred the question to the standing committee for further study. Other resolutions of the committee at this meeting included recommendations to the standing committee to study means of increasing cotton consumption to close the ten percent gap between production and consumption, and to circulate information about the terms of external trade of cotton importing and exporting countries, and a recommendation to the secretariat to begin publishing textile statistics. E. D. White (United States) was reelected chairman of the standing committee. In closing, the session accepted the invitation of the government of Brazil to hold its next plenary meeting in Sao Paulo.

International Cotton Advisory Committee

The second annual meeting of the International Commission for Northwest Atlantic Fisheries met at St. Andrews, New Brunswick, Canada, June 30–July 9, 1952. Among the matters considered by the commission were a review of the activities of the organization since the first meeting in April 1951, permanent headquarters for the organization, election of a new chairman and executive secretary, the 1952–1953 budget, and the composition of the five sub-areas into which the commission area was divided. In addition, the commission considered recommendations formulated at a meeting of members of sub-area V held in Ottawa on February 26, 1952. The United States and Canada, who comprised the sub-area adjacent to the New England coast, recommended that the commission 1) instruct the Research and Statistics Committee to make a detailed study of all fish resources falling within the purview of the commission; 2) consider a proposed regulation for haddock fishing, including a proposal to increase the average mesh size of nets used in fishing for haddock off the New England coast; and 3) call the attention of interested governments to a recommended research program concerning haddock.

International Cotton Advisory Committee

The tenth plenary meeting of the International Cotton Advisory Committee met at Lahore, Pakistan, from February 1 to 9, 1951. The meeting was attended by representatives of nineteen member governments and by observers from seven other governments and the Organization for European Economic Cooperation. An increased budget and work program for the 1951–1952 fiscal year was approved and the secretariat was instructed to continue publication of the “Monthly Review of the World Cotton Situation” and the “Quarterly Statistical Bulletin” as well as undertaking certain other projects. Members were requested to provide the secretariat with cotton statistics and to consider the possibility of “further practical measures for the improvement of their raw cotton price information.” The secretariat was further requested, under the supervision of the Standing Committee, to continue its statistics and research on an international cotton agreement by preparing information on prices, production, exports, imports, consumption and stocks, and by consideration of the problem of the constitution of buffer stocks of cotton. The Standing Committee was requested to keep the balance of payments situation under review and to report to the eleventh plenary meeting in case of a serious deterioration. In connection with the cotton shortage, the meeting resolved to call the attention of the agencies concerned with technical and financial assistance, to the fact that the promotion of increased yields in cotton production in underdeveloped countries “would be very beneficial.”

International Cotton Advisory Committee

The International Cotton Advisory Committee held its ninth plenary meeting in Washington from May 22 to 31, 1950. Principal goals of the meeting were to further progress toward the committee's three major objectives of 1) furnishing information on the current economic international position of cotton, 2) serving as a forum for the exchange of views and ideas looking toward a solution of the international cotton industry's problems, and 3) formulating suggestions for international economic study in dealing with world cotton problems. Representation at the meeting was the largest since the committee had been organized in 1939; delegates from the following governments participated: Argentina, Australia, Austria, Belgium, Brazil, Canada, China, Egypt, France, Greece, India, Italy, Mexico, the Netherlands, Pakistan, Peru, Turkey, the United Kingdom and the United States.

International Cotton Advisory Committee

The eighth plenary meeting of the International Cotton Advisory Committee was held in Brussels from April 25 to 30, 1949, to review the world cotton situation and exchange information concerning the cotton policies of the member governments. Eighteen nations were represented at the meeting while twelve governments sent observers.

International Cotton Advisory Committee

Nineteen member governments, the Food and Agriculture Organization and the United Nations were represented at the seventh meeting of the International Cotton Advisory Committee held at Cairo and Alexandria, Egypt, from April 1 to 8, 1947.

International Cotton Advisory Committee

The sixth meeting of the International Cotton Advisory Committee was held in Washington from June 9 to 11, 1947. Action was taken to provide the basis for a permanent secretariat to compile statistics and lend continuity to the work of the Committee, and L. A. Wheeler (United States) was reelected chairman of the executive committee. The next meeting was scheduled for Cairo in April, 1948.