Cotton Shortage Could be Good for Georgia Farmers
Friday, September 3rd, 2010
South Georgia farmers are looking for improved prices on almost all of their crops that will be grown next year, because of a short supply of cotton. The world's supply of cotton is at it's tightest margin since 1994, and the price has increased about 20 cents per pound. That promises good news for Georgia's economy.
Agriculture is Georgia's largest industry, but it has been beset by low commodity prices. Now supply and demand is driving up prices and competition for most South Georgia crops, giving farmers better options for next year.
Leary farmer Jimmy Webb is the second vice president of the Cotton Council International. At their national meeting last week supply stock and world use were the main topics. And the news is good for American farmers. Webb said "I think we are in the best situation we've been in probably since 1994."