Recent floods in Australia's Queensland State have devastated some crops in the region and surrounding areas, which is likely to affect the overall produce of Queensland State.
The supposition that, the soaring global demand for cotton mainly from the side of China may outdo its supply caused the commodity future prices to touch record highs during end part of December 2010.
However, according to the experts, as the rainy weather has helped the country's eastern most regions to overcome drought and has flooded the irrigation dams, the country's overall production for the season is likely to touch a record 4.2 million bales, with cultivation taking place on 665,000 hectares, said, Cotton Australia.
The rains have mainly devastated crops in and around Theodore, but an exact idea regarding the damage to the crops and produce in other areas could be derived only after the rain water backs off and the recovery rate of the crops thereafter. Thus, it would be a hurried step to revise the production estimates, as the harvesting would mostly take place in the month of April.
The country's production for the 2010-11 season is estimated to be around 894,000 metric tons, as against 387,000 tons during last season, a report released by the Australian Bureau of Agricultural and Resource Economics and Sciences stated.
Fibre2fashion News Desk - India