A press release battle over which companies have the right to purchase and sell grown in Barbados cotton has journalists, news media and blogs so confused that nobody seems to know the truth about anything when it comes to “Sea Island Cotton”.
This confusion is deadly to the value of our cotton on the world market because the added value in cotton grown in Barbados comes from the brand not from the cotton itself. Our cotton is expensive to produce due to the lack of economy of scale, the higher labour costs to grow and harvest and higher processing and transportation costs to get it to market. IF our cotton is “better” than cotton grown in other places it is probably only incrementally better, and not superior enough to justify the price differential from cotton grown by China, India and other mass-scale producers.*
So what we really have is the brand, the name… and now there is confusion.
Just read the below press releases from Adlai Stevenson, the CEO of “ECCI” and rival Kyto BioPharma Inc. and you’ll see these brands or names mentioned…
Exclusive Cottons of the Caribbean Inc. “ECCI”
West Indian Sea Island Cotton
Barbados Sea Island Cotton Inc.
Genuine Certified West Indian Sea Island Cotton
Another company used to market our crop as “Caribbean Sea Island Cotton“
You’ll also see that while Mr. Stevenson’s press release says “We buy all West Indian Sea Island Cotton grown commercially in Barbados and process that cotton…”, that statement falls short of saying that ECCI buys all cotton produced in Barbados. ECCI says it buys all the “West Indian Sea Island Cotton”: whatever that means. The headline on the release doesn’t say “still retains all rights to ALL Barbados-grown cotton”… it says “still retains all rights to Barbados-grown cotton”
That missing word could be a big deal.
The cotton industry in Barbados has had rough times in the last fifteen years, including troubles surrounding the ownership of the brand and processing companies, with the Barbados Defense Force once sent to seize everything at gunpoint and against a judge’s order, and some of the involved foreign investors threatened and arsoned! In June of 2013 we also told readers about an overly-slick stock scheme involving Barbados cotton.
So good luck to the poor folks who rely upon cotton to make their living in Barbados. The big money boys are fighting again.
Here is Adlai Stevenson’s Press Release, and then we’ll have the press release from Kyto BioPharma Inc….
* According to the National Cotton Council of America, the top ten cotton producing countries are (in order) People’s Republic of China, India, United States, Pakistan, Brazil, Uzbekistan, Australia, Turkey, Turkmenistan and Greece.
Exclusive Cottons of the Caribbean Inc. still retains all rights to Barbados-grown cotton
Exclusive Cottons of the Caribbean Inc. (ECCI), the company responsible for transforming West Indian Sea Island Cotton (WISIC) into a viable industry, has taken issue with inaccurate statements about Barbados’ cotton industry being made in a press release being circulated on Internet news websites and blogs in the United States (US) and Barbados.
ECCI says that the release and iterations of it which appeared in the US before being picked up by local media and blogs state that a Canadian bio-pharmaceutical company called Kyto BioPharma Inc., had recently announced that it was acquiring the outstanding common shares in a company called Barbados Sea Island Cotton Inc. (BSC). The release also stated that a Jonathan Bryant will be named President and Chief Operating Officer and Director of BSC after the share exchange has been completed. Continue reading