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Cotton production slides
27 Jul '06
1 min read
At the annual general meeting of Queens land Cotton Holdings Ltd. Richard Haire, Chief Executive told shareholders that 2006-2007 would be another challenging year as the production is expected to be between 15 and 20 percent lower than last year despite the addition of three Twynam gins.
It is expected that Twynam gins would strengthen the New South Wales business and lessen this blow in future.
As a result of reduced plantings, the company's ginning operations in the United States were also likely to produce lower volumes in California and Arizona but it is estimated that cost savings would minimize the financial crash.
The performance of Australia had improved, although, in aggregate volumes it is likely to be 10 percent down on last year in global marketing.
It is expected that Twynam gins would strengthen the New South Wales business and lessen this blow in future.
As a result of reduced plantings, the company's ginning operations in the United States were also likely to produce lower volumes in California and Arizona but it is estimated that cost savings would minimize the financial crash.
The performance of Australia had improved, although, in aggregate volumes it is likely to be 10 percent down on last year in global marketing.
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