Related Keywords: ABARES, cotton planting, global textile sector, n cotton export, NAB, raw cotton
Australia is all set to touch just below 1 million tonnes in raw cotton exports to become the third largest exporter of raw cotton in the world this year, according to a bank report out on Friday. The National Australia Bank (NAB) Agribusiness Rural Commodities Wrap in the report said that a recovery in cotton prices was likely to have acted as an incentive to production, with prices above historical average levels and more favorable than alternative crops. However, dryland cotton plantings are minimal due to the extended and extreme drought conditions that impact growing areas.
