An open, fair, predictable, and transparent international cotton trading system is key to supporting hundreds of millions of vulnerable people.Cotton provides employment and income for millions of smallholders, workers and their families. UN agencies have worked towards the mission to optimize production and improve local processing capacities, as well as discuss the reforms needed to address high trade barriers and inequalities for cotton producers in developing countries.These efforts date back to 2003 through the Cotton Initiative. Cotton supports the economies of many low-income and emerging countries.
Culturally important
Innovative technologies and resources are vital to ensure that the sector remains viable and sustainable. Greater investments are needed to expand the sector beyond raw cotton production and create new income opportunities, especially for farmers, by adding more value to cotton fibre and developing by-products from other parts of the cotton plant.
Challenges abound
Last year it contributed about billion to their economic support – and billion in global trade, according to FAO. Cotton production contributes significantly to Mali’s economy despite often challenging trading conditions. It represents an important source of foreign exchange earnings for low-income countries,
Wonders of cotton
-
Growing the fibre
- It is the most important of the natural fibres, used daily in clothing and home furnishings, and represents an important source of export revenues for some of the poorest countries in the world.
- The day accentuates the need for a sustainable cotton sector that enhances production, nutrition, environment, and life, leaving no one behind.
Stepping up
© FAO/Swiatoslaw Wojtkowiak And FAO has long offered developing countries technical and policy support for boosting productivity and creating more opportunities in the cotton value chain. Domestic support measures are critical to prevent trade and other market distortions from hampering trade liberalization benefits.
- Furthermore, cotton faces a number of uncertainties on both the production and demand sides that need to be properly addressed if the sector is to realize its full potential in supporting economic growth and sustainable development.
- An estimated 100 million family farmers across 80 countries directly depend on the cotton industry, in which women play a key role.
- Investments are needed to expand the sector and create new income opportunities by developing by-products from other parts of the cotton plant.
- However, market price volatility, climate change, pests, diseases, COVID, and the global economic slowdown are among the issues currently challenging the sector.