Australian cotton exports increased significantly in 2016/17 largely due to an expansion in the area of cotton planted leading to increased production Rural Bank’s 2016/17 Australian Agriculture Trade Performance report showed.
Australian cotton exports increased significantly in 2016/17 largely due to an expansion in the area of cotton planted leading to increased production Rural Bank’s 2016/17 Australian Agriculture Trade Performance report showed.
Australia Cotton Export Highlights
- China imported 26% less cotton in 2016/17 as it works through existing stockpiles. This saw the share of exports to China fell from 50% to 26% in 2016/17, China however expressed strong demand for Australian wool
- India bought more Australian cotton, increasing its intake by 569 per cent
- Bangladesh picked up the excess with increases in volume of 270 percent.
Australian cotton production is expected to increase slightly in 2017/18, leading to further growth in exports which will also be supported by slightly higher global prices.
Rural Bank said Australia’s agricultural exports rose by $3.9 billion to almost $50 billion in the last financial year, mainly because of a bumper year for grain and fibre. Cotton production in Australia is expected to lift slightly in 2017/18, further boosting exports.
Source: AUSTRALIAN AGRICULTURE TRADE PERFORMANCE 2016/17
From The Traders Community Research Desk