Our cotton magazine is now on line. Go to 'Publications' . Despite COVID as you will see from the various articles that we publish , the participants of our industriel sector are showing flawless dynamism. Research, innovation, tenacity are the the words that best characterise their action.
AFCOT 2024 Forum in Le Havre, a memorable event!
Dear Members,
Ladies and Gentlemen,
Thank you to all of you who have come, often from far and wide, to take part in our cotton meeting in Le Havre, a UNESCO World Heritage Site. It was a wonderful opportunity to bring together all the cotton-producing regions and all those directly or indirectly involved in the raw cotton trade.
The Association Française Cotonnière, which celebrated its 134th anniversary this year, met in Le Havre, the AFCOT headquarters since 1890, on Thursday 3 and Friday 4 October 2024.
More than 300 people from all five continents took part in our event.
For half a century, the AFCOT forum has brought together all the players in the international cotton industry. It is one of the leading international cotton events. Traders, producers, exporters, inspectors, forwarding agents, as well as banks, shipping companies, insurance companies, trade federations, public bodies and research institutes all contribute to presenting the different facets of the cotton sector, its businesses, developments and prospects. For two days, the AFCOT forum was the place to be.
The participants met on Thursday 3 October 2024 for a welcome cocktail under a radiant sun, in the grand salons of Le Havre City Hall. We were welcomed by Mr Edouard Philippe, former Prime Minister and Mayor of Le Havre.
The members of the AFCOT Executive Committee then invited all the participants to join in this moment of exchange and reunion, for an aperitif and dinner at Les Enfants Sages.
Friday 4 October began with a seminar organised by the Association Française Cotonnière and the Association Cotonnière Africaine. The discussions were led by the President of the AFCOT, Mr Laurent PEYRE, and the President of the ACA, Mr Ibrahim MALLOUM.
Mr Michael EDWARDS, Director at COTTON OUTLOOK, Mr Denis FERRAND, Managing Director of REXECODE, Mr Jean-François LAMBERT of LAMBERT COMMODITIES and Mr Olivier SEGARD, Managing Director of SEGARD MASUREL took it in turns to address subjects that are at the heart of the cotton world’s concerns.
You can find their presentations and all the photos of the various events on the AFCOT website, under the heading ‘Our events’ and then ‘Forum du Havre 2024’.
All the participants were then invited to a convivial lunch. The afternoon was devoted to a boat tour of the Port of Le Havre, courtesy of SOSEA.
Participants gathered for cocktails in the early evening at the Pasino, AFCOT’s former headquarters, followed by a gala dinner in the Pasino’s grand salon.
In his speech, the President of AFCOT recalled the key events of this cotton year and those of our association. His speech is also available on our website.
The President, the Executive Committee and the General Secretariat of AFCOT would like to thank the four speakers and all those who honoured us with their presence.
Welcome cocktail at Le Havre City Hall, in the presence of Edouard Philippe, former Prime Minister and Mayor of Le Havre, on Thursday 3rd October 2024
Only the spoken word is authentic
Mr Mayor of Le Havre,
Madam Member of Parliament,
Ladies and Gentlemen,
I am delighted and very moved to be here today with the entire cotton community, so many of whom have come to this annual forum, which is being held this year in Le Havre.
I would like to thank each and every one of you who have responded in such numbers to this invitation from the Mayor of Le Havre, and who have wished to take part in this unprecedented event, which is first and foremost a friendly occasion.
Thank you, Mr Mayor, for responding positively to our invitation to welcome this diverse cotton community from all over the world.
Mr Mayor, I would like to express my gratitude to you for having immediately appreciated the symbolic importance of this cotton meeting, in the heart of this town with its rich maritime past, which perfectly embodies the spirit of exchange and cooperation, essential values that we share, because that is also the soul of AFCOT.
Symbolic too, because the history of AFCOT and Le Havre are intimately linked.
Our organisation, AFCOT, has been based in Le Havre since 1890 and has remained faithful to its local roots.
In 1890, when it was founded, we were known as the ‘Cotton Trade Union’, then in 1943 as the ‘Association des marchés du coton du Havre’, in 1962 as the ‘Association Française du commerce des cotons’ and in 1968 as the ‘Association Française Cotonnière’.
All these name changes reflect AFCOT’s desire to keep up with the times, forcing us to structure ourselves to keep pace with the changes that the world is imposing.
Our organisation is discreet, yet it has 80 international members and a few French members.
And yet AFCOT is one of the world’s leading cotton associations, working to defend the interests of its members in an ever-changing environment, in particular by promoting compliance with contracts…
AFCOT is 134 years old, and we know that it is appreciated and respected by all. It cultivates an insatiable curiosity about the many challenges facing its sector.
There you have it,
Mr Mayor, Ladies and Gentlemen
Ladies and Gentlemen,
For all the things that bring us together and unite us, it gives me great pleasure, along with the Members and friends here this evening, to wish you a wonderful time in Le Havre!
Cotton Fourm in Le Havre, 3rd et 4th octobre 2024
Only the spoken word is authentic
Speach of Mr Laurent PEYRE
Mr Mayor of Le Havre,
Ladies and Gentlemen,
Allow me to interrupt to welcome you all, who have honoured us with your presence, to the traditional forum of the Association Française Cotonnière.
It is with great pleasure that I take the floor today at this 174th AFCOT forum. I would like to thank each and every one of you who have wished to take part in this event, which is above all a time for sharing.
Thank you to you, Mr Mayor of Le Havre, for having made our forum sacred by inviting us to the Grand Salons of the Town Hall for a cocktail reception. Thank you also for responding to our invitation to hold this first ever event in Le Havre, the gateway to Europe. It is a city with a rich maritime past that perfectly embodies the spirit of exchange and cooperation, which are essential values that we share. It was an honour and a pleasure, and I would like to express my sincere gratitude.
I would also like to greet all my counterparts from the cotton associations who are here this evening.
I would also like to thank our four morning speakers, who have enlightened us with their words.
It is always a pleasure to welcome you to our traditional forum after a day filled with presentations and exchanges under the patronage of A.C.A- AFCOT.
You know better than anyone that the cotton industry is often a matter of cycles and seasons, of rendezvous and traditions.
This is a reunion between you and this annual event, and in all your diversity, you are all part of the richness of this moment.
This is all the more true given that this is the first time in decades that this ceremony dedicated to the world of cotton has returned to Le Havre, where the AFCOT has been based since 1890. Our association was founded in Le Havre by a group of importers and today it has become one of the leading cotton associations in the world, serving all those whose activities are linked to cotton.
Our professional organisation has been based in Le Havre since 1890, true to its historical roots.
And the place where we are meeting this evening is no coincidence. The Pasino, formerly the Le Havre Chamber of Commerce and Industry and also the headquarters of AFCOT, was built in 1957. It took the place of the Bourse, which, like much of the city, was destroyed by bombing in September 1944.
While the Chamber of Commerce and Industry remains closely linked to Le Havre’s commercial history as a port and trading centre, Le Havre also stood out as a major financial centre for almost a century, until 1939. The Stock Exchange, whose imposing palace was built in 1880, played an international role in setting prices for cotton, coffee, spices and exotic woods before the war.
So much for a glimpse of history.
There are more than 300 of us here this evening from some forty countries representing every continent.
This is also the last time that I, as President, will be able to address you collectively and share this momentous occasion.
As is tradition, I am going to take stock of the cotton year, which has been marked by great volatility on the world cotton market.
Since the beginning of the year, several factors have influenced prices and the dynamics of production and consumption, with major consequences for all the players in the sector.
In terms of production, we saw a recovery in certain key areas, notably the United States, Brazil and Australia. However, this recovery was limited by difficult weather conditions. Persistent drought in several parts of the world curbed yield growth, while floods also had a negative impact in other parts of the world.
Cotton prices have fluctuated since January, with the NY Dec 24 to mid-February quotation at 84.80 usc/lb falling to 67.00 usc/lb at the beginning of August. The high prices seen at the start of the year were supported by strong demand and relatively low world stocks. However, this momentum was gradually reversed by rising production costs, particularly for fertiliser and energy, exacerbated by the war in Ukraine and the conflict in the Middle East, as well as global inflation.
The market has had to cope with these pressures, leading to periods of great uncertainty and price adjustments.
On the demand side, we noted a gradual slowdown in the main consumer countries, such as China and the European Union, due to the contraction in the global economy.
Concerns about a possible recession, and restrictive measures in China due to health policies, have affected the textile trade and, by extension, the demand for cotton.
Nevertheless, some emerging economies continue to drive global demand, even if the future remains uncertain. The examples of Pakistan and Bangladesh are the best proof of this.
One of this year’s major themes was the focus on sustainability.
Cotton, at the heart of debates around sustainable fashion and the environmental impact of crops, is coming under increasing scrutiny for its farming practices. Initiatives to promote more environmentally-friendly production, such as organic cotton and certification or labelling programmes, are gaining momentum.
This is a trend that will continue to shape the future of the sector, although certification programmes are becoming increasingly complex for both producers and the rest of the sector, and it would be wise not to forget that all these efforts in the field of sustainability and traceability must above all benefit the producers, who are the foundation of the sector and the entire industry.
In conclusion, although it has been a tumultuous year, the cotton market has shown significant resilience in the face of many challenges.
The sector has been able to innovate and adapt, which is an encouraging sign for the future. However, it is clear that we must continue to work together to meet the challenges posed by market volatility, climate issues and growing demands for sustainability.
Finally, if there’s one thing everyone will agree on this evening, it’s defending and promoting natural fibres and cotton in particular.
So I say it loud and clear:
wear cotton, wear natural fibres, breathe cotton. That must be our leitmotiv and I know that the AFCOT will never stop working in this direction and joining forces with anyone who defends this.
Finally, I’m particularly moved this evening because I did my higher education in Le Havre at the ISTOM, like others here present, and today I’m going to say goodbye to you, as this is the last dinner I’ll be chairing, as my term as Chairman ends in April 2025. And, what’s more, I’m going to end my official career in the cotton industry this evening here in Le Havre, leaving the place to a promising young person and also the presidency of the AFCOT to Thierry Devilder, to whom I wish every success.
The circle is complete.
Finally, I would like to thank Emmanuelle Duclos for her invaluable help, patience and self-sacrifice during all the ups and downs of my presidency.
I would like to thank you all most sincerely for your attention and look forward to seeing you in Deauville on 29 and 30 September 2025.
Many thanks again to you all, and enjoy this haven of peace.
Fiday 4th October 2024
Click below to read the speakers’ presentations
AFCOT - © All rights reserved
