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Cotton growers hold on to stocks till prices rise

13
Jan '06
Australian cotton growers are holding off, and are not prepared to set prices for this year's crop, said Kim Morrison from Macquarie Cotton.

The price of a bale of cotton in Australia has not breached the $450 break-even mark since September 2004, and is presently hovering around $400.

Australian cotton growers continue to plant cotton till supply of water is available, and meanwhile look forward for market to rally.

The world oversupply of cotton has created a situation wherein the mills are not prepared to buy on any rally that prevails in market.


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