Horizon Pacific Trade seeks to purchase Georgia cotton to sell worldwide as state growers benefit from crop disasters in China, India and Pakistan. Because of shortages, China is actively buying U.S. cotton to fill its textile manufacturing orders, and Horizon plans to supply this demand immediately.
Indeed, Atlanta-based Horizon Pacific Trade is in the midst of selling cotton to China from Arizona, California and Texas, and now it is looking at what will probably be a bountiful Georgia crop, which will be picked primarily in September through November.
Horizon may have a leg up on the China trade because it is a newly formed joint venture and one of the partners is Horizon Pacific, Ltd., which is knowledgeable about China’s textile industry. The company was the first American enterprise to manufacture handmade rugs in China through an agreement completed last year with the city of Liyuangang in Jiangsu Province.
Its partner in Horizon Pacific Trade consists of traders J. Carlton Smith and Masheal Stamey, who sell products ranging from food and natural resources to consumer electronics.
The joint venture’s interest in Georgia cotton comes at a propitious time. According to Georgia Agricultural Statistics Service, plantings of the crop soared 38% from last year’s acreage to 850,000 acres. Cotton now outranks peanuts as Georgia’s main crop.
Cotton appealed to farmers because of the fiber’s attractive price, about 70-cents per pound, a 27% increase from what it was fetching last year. Boosting the price were the crop failures in the three Asian countries.
Earlier this year, Chen Huan-you, Jiangsu’s governor, signed an agreement with Gov. Zell Miller pledging to increase economic and trade cooperation with Georgia.
“Horizon Pacific has established strong relationships in China and will enable our new venture to find many opportunities for trade,” said Ms. Stamey.
Horizon Pacific Ltd.’s joint venture in China employs more than 12,000 workers and commissions workshops in India, Nepal and Turkey to weave original designs which are created in its Atlanta design studio. On display at the 56,000 sq. ft. facility are a wide assortment of handmade rugs imported from their Asian facilities.
For more information about Horizon Pacific Trade, call Mr. Smith or Ms. Stamey at (404) 352-9990 or send a fax to (404) 352-5556.