Cotton production of the country was 625 thousand 480 lb bales in MY 2019-20, which rose drastically by 316 per cent in MY 2020-21 to reach 2,600 thousand 480 lb bales. It is anticipated to increase further by 50 per cent in MY 2021-22 to touch 3,900 thousand 480 lb bales, according to Fibre2Fashion’s market analysis tool TexPro.
As for the exports, Australia exported 1,360 thousand 480 lb bales of cotton in MY 2019-20, which showed a moderate rise of 10.29 per cent in MY 2020-21 to reach 1,500 thousand 480 lb bales.
Exports are likely to shoot up by 113.33 per cent to 3,200 thousand 480 lb bales in MY 2021-22 over the previous season due to higher production in MY 2020-21 and a high expected yield in the upcoming season.
ALCHEMPro News Desk (KD)
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