Cotton has always been such a problematic crop for USA. China has a curious policy towards cotton.
Exactly the right policy.
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In 2001, US exports to China amounted to 63,000 tons of cotton at a value of $56 million. Total cotton consumption in China for 2013 is expected to be 7.7 million tons.Why not grow more themselves? Why should they? If USA wants to subsidize cotton and deplete their fields to benefit China with cheap cotton, then take advantage. Grow some, but import plenty more. The more you import, the farther ahead you get.
"Data on US exports to China in just over a 10-year period of time [reveal] how significant of an impact China has had in terms of consuming US grown cotton," Jackson said.
Over the past decade, China has encouraged cotton growers to readjust their product mix; introduced, developed and commercialized more high-quality, productive and marketable varieties of cotton from abroad; and popularized advanced cotton planting techniques, according to a presentation by Hua Liu, general counsel for the China National Cotton Reserves Corporation (CNCRC).
In March 2011, the Chinese government enacted the Policy on Provisional Purchase and Storage of Cotton, which Liu said has helped stave off fluctuations in cotton output and effectively regulated a stable cotton-cultivation area of about 11.5 million to 13.2 million acres.
Exactly the right policy.
Feel free to forward this by email to three of your friends.
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