Now this is interesting. The Caribbean Sea Island Cotton brand has become Barbados Sea Island Cotton and to get the whole thing rolling again the Bajan Government is apparently backing a ‘double your money way too fast’ scheme.
More questions than answers in the video, but it does remind me about a BFP article published back in September of 2009. Here’s an excerpt…
Our bull manure warning meter spiked though when we read another one of those “Things gonna be just fine!” articles at the CBC – this one about Barbados cotton. Yup, right on schedule every year or so for the past ten years the government of the day announces that our cotton industry is going to be “revitalised” through better marketing. Nevermind that we haven’t the economies of scale to be competitive on the world market. Nevermind that we can’t even find sufficient labour to harvest the sugar crop in a timely manner.
Nevermind the naysayers, says the government to CBC, Barbados will “revitalise” the cotton industry. (Hmmm…. I think I smell a World Bank development grant out there somewhere.)
And how are we going to make Barbados cotton economically viable? How are we going to compete against China and India, the first and second largest cotton producers in the world? How are we going to profit in the middle of a recession where the commodity news services are reporting Recession hits cotton consumption, down 12% ?
How is Barbados cotton going to be profitable when India is using her booming economy to subsidize her cotton farmers so much that world cotton prices are forecast to fall by 6% in the next year?
How are we going to make Barbados cotton viable?
We’re going to make a “new brand”, that’s how! We’re going to sell to “upscale” markets. Yup, that’s what Agriculture Minister Senator Benn told the CBC.
Read the full article at BFP: Caribbean Sea Island Cotton brand to be killed by Barbados… as if a name change will solve anything