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US will release 12.7million Dollars to promote US cotton industry

US will release 12.7million Dollars to promote US cotton industry

Write: Virida [2011-05-20]

US government has released 12.7million Dollars to promote sales of US cotton. The capital will be cost to search for cotton traders in international market by Cotton Council International (CCI) with headquarter in Washington. "We will take full advantage to this public fund", said the chairman of CCI Drayton Mayers.

"The Agricultural Ministry has recognized farmers' efforts for increasing admission to world market. In 2007, US peasants are expected to export products with value of 77billion USD to overseas", said Minister of US Agricultural Ministry Mike Johanns. CCI has raised 52million USD capital from cotton organizations. Since 2000, many US textile factories are moved to overseas for taking advantage of cheap labor. This year, US peasants are expected to export 16million package of cotton, accounting 80% of total cotton output.