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National Cottonseed Products Association, Inc.
Executive Vice President’s Address
Ben Morgan
May 6, 2002
It’s a pleasure to add my
personal welcome to those in attendance today.
I’d like to take this opportunity to give you
an update on the annual convention, some of the Association’s
activities, and the state of the NCPA today.
We’re
pleased that all representatives of all segments of the industry in
attendance this week. Those
from processing oil mills, refiners, dealer and brokers of the various
products, as well as end users and industry suppliers are here.
The NCPA Board and convention committees are constantly looking at
ways to increase attendance, whether it’s by programming ideas or new
venues. If you have some ideas
you’d like to pass along, please let one of our Board members or a staff
member know.
In the area
of projects and activities, we could use the heading “The More Things
Change the More They Stay the Same”.
NCPA’s Trading Rules remain the basis for the trading of
cottonseed and cottonseed products. The
Association remains the central point of contact for information about the
industry – whether it’s from the media, researchers, or those new to
the industry. NCPA members can
and do speak for the industry with a unified voice – a critical element
in today’s environment of coalitions and special interest groups.
And speaking of coalitions, the Association recently formed an
alliance with Cotton Council International to improve the industry’s
efficiency in promoting cottonseed meal and oil in
Mexico
. And membership numbers in
the NCPA remain mostly unchanged from a year ago in spite of recent
industry upheaval.
As I
mentioned, NCPA’s Trading Rules remain the basis for the trading of
cottonseed and cottonseed products. We
continue to field calls to interpret basic rules for trading; procedures
remain in place for orderly changes and/or improvements to the Trading
Rules; and the Association will likely always answer the question for
those new to the industry, like “Are there rules about trading
seed/hulls/oil/meal?”
The
Association, like most trade organizations, remains the central point of
contact for information about the industry.
NCPA’s Newsletter is sent to nearly 400 readers every other week,
and has been for over 20 years. Viewers
and users of the web site cottonseed.com have doubled again over the last
year – and content, especially for members, continues to expand.
The industry statistics that have become so popular remain in
demand. And members of the
media, whether print or electronic, generally use the NCPA as their first
point of contact when researching the industry.
It remains
important that members of the NCPA speak for the industry with a unified
voice. We have had 100%
support from the processing mills for a number of years. And the
Association, with it’s broad base of support from all segments of the
industry – mills, refiners, dealer, brokers, end users and suppliers,
continues to do so.
Ten percent
of the industry’s sales are to buyers outside the
US
– and
Mexico
is the largest export market by far. With
the alliance we have formed with Cotton Council International, we will
continue to lend support to that important market through CCI’s
management expertise and NCPA’s program experience.
The number
of mill, dealer, broker, refiner, end user and supplier members has
remained stable over the last year. We’ve
had no net change in membership numbers.
And we’re pleased that interest remains high from those entering
the business, as new member applications also has remained stable.
The
Association’s governance has not changed – we are run by the Board of
Directors and an elected President and Vice President.
And the NCPA staff has nearly 30 years of association experience.
We remain
in solid financial position. In
fact, NCPA’s financial position has improved with the changes the Board
initiated last summer. We did
not tap into our reserves this past year and do not anticipate doing so in
the year ahead.
Finally,
one last fact about the cottonseed industry.
While the percentage of the cottonseed crop handled by oil mills
declined in each of the previous two seasons, this past year that
percentage went up. To me,
that speaks to the improving condition of the industry and a bright
outlook for the months ahead.
That you
again for joining us here this week, and if there is anything we can do to
make the convention or your stay more enjoyable, please don’t hesitate
to let us know.
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