The Australian Cotton Shippers Association (ACSA) and Cotton Australia (CA) have received a $692,456 grant from the government to develop and implement a strategy for market diversification. The grant would play an important role in coordinating a plan for the future of the country’s cotton industry, minister for agriculture and northern Australia David Littleproud said.
“This grant will establish a long-term strategy for market diversification for the entire cotton industry,” minister Littleproud said in a statement.The Australian Cotton Shippers Association and Cotton Australia have received a $692,456 grant from the government to develop and implement a strategy for market diversification. The grant would play an important role in coordinating a plan for the future of the country's cotton industry,minister for agriculture and northern Australia David Littleproud said.#
“This will explore as many options as possible to make Australian cotton a fibre of choice for textile manufacturers. It will look at markets with huge growth potential, like Bangladesh, Pakistan and Vietnam; it will also look at consumer education through digital platforms,” he said.
Cotton Australia chief executive officer Adam Kay said market diversification is crucial in the next two years. “We’re forecasting a good crop in 2021 and a huge crop in 2022—635,000 tonnes this year and 1 million tonnes next year,” Kay said.
“Working closely with our customers, retailers and brands will increase demand for the sustainable high-quality cotton we produce and avoid stockpiling product,” he added.
ALCHEMPro News Desk (DS)
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