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Cotton output to hit record high levels in next 3 years
27
Jan '11
A cotton industry expert recently stated that, Australia, the third largest exporter of cotton across the world, may witness its cotton production touching record high levels over the next three years, regardless of the production loss caused due to recent floods.

Also that, the industry is optimistic regarding the cotton prices which recently touched record high levels on the back of growing demand from the side of China, the largest consumer of cotton.

Further that, though heavy rains devastated cotton crop in the major cotton producing regions of Australia including Queensland and northern part of the New South Wales, but then it even filled the irrigation reservoirs to such levels that these regions now have water sufficient enough for crop irrigation for next three years.

Such good water levels in the reservoirs coupled with all time high prices are likely to support robust production in 2012 and 2013, which is a positive development for the cotton industry of Australia, which over the last few years had been suffering due to drought.

Initially Australia's cotton production for the 2010-11 season was estimated to rest as high as 4.4 million bales, but then in view of the damages caused by floods, these estimations were lowered to below four million bales.

However, even with these new estimations, the overall production of cotton for the current season is likely to surpass the 2001-02's record production of 3.52 million bales, and would be almost double the last season's production of 1.8 million bales.

Fibre2fashion News Desk - India


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