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Australian cotton output & exports to decline next fiscal
07
Mar '13
The production of cotton in Australia is likely to witness a decline for second successive season next fiscal year beginning July 1, 2013, the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES) has said.
 
According to the Canberra-based government body, Australia’s cotton production is likely to decline to 905,000 tons next fiscal year from 945,000 tons produced a year earlier.
 
The decrease in cotton output would lead to a dip in exports, which are likely to fall to 924,000 tons, compared to record exports of 1.1 million tons achieved a year earlier, ABARES said.
 
According to the report, cotton is estimated to be sown on about 434,000 hectares in 2013-14.
 
In its recent statement, the International Cotton Advisory Committee (ICAC) has forecasted global cotton production to decline 14 percent year-on-year to 22 million tons, while consumption would remain stable at 23 million tons in 2013/14.
 

Fibre2fashion News Desk - India

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