Home / Knowledge / News / Textiles / Cotton farmers strain to meet contracts
Cotton farmers strain to meet contracts
31
Jan '11
Heavy floods over the past few weeks, have wiped out the cotton produce of majority of the cultivators in Queensland's Theodore, Emerald and Darling Downs regions. Some of these cultivators had already entered into forward contracts for their produce at a price of around $500 per bale, and thus are now required to execute these contracts by procuring the crops at prevailing rates of around $800 per bale.

Meanwhile, the big wholesale traders, also involved in these hedge contracts were negotiating the terms of the contracts so as to make it possible for the flood hit cultivators to continue their business.

Further while these cultivators in order to fulfil their commitments are procuring cotton at a price which is around $300 a bale higher than what they were supposed to get, and there is not much crop left for procurement.

For some of the cultivators in Theodore it is the second consecutive year when they lost their crops.

Prior to the floods, the overall cotton crop cultivation for the 2010-11 season was estimated at four million bales, majority of which was meant for exports, and after the floods this estimate was lowered by around 10 percent to 3.6 million bales.

However, even with these new estimations, the overall production of cotton for the current season is likely to surpass the 2001's record production of 3.52 million bales.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 20th Jan 2017

TEA expects budget to upscale textile skill industry

The Tiruppur Exporters’ Association (TEA) has requested the Central...

Textiles | On 20th Jan 2017

Bangladesh could earn $60 billion in exports by 2021

Bangladesh is expected to earn over $60 billion in exports by the...

Courtesy: PIB

Textiles | On 20th Jan 2017

Govt to help Tangaliya weavers purchase looms: Irani

Government of India will facilitate Tangaliya weavers in purchase of...

Interviews View All

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search