Australia is expected to export cotton worth $3.5 billion this year, says Michael Murray, General Manager, Cotton Australia. In all the country will produce 5 million cotton bales this season. As per a Textile Focus report, the surge in Australia’s cotton exports this year will be a result of excellent seasonal circumstances returning to several drought-affected producing areas, as well as robust worldwide pricing of around $840 per bale. Australian cotton exports shifted shipments to other markets when the sector was involved in the fight of Chinese trade concerns in 2020, and exports to the important market virtually ended, according to Pete Jonhson, Cotton Analyst. Cotton prices were also pushed to the second levels worldwide due to COVID-related supply chain delays. Local producers benefited from the high prices by bagging new supply contracts, adds Stuart Armitage, Cotton Grower, Cecil Plains.
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