Australian growers appear to sell out of 2022 cotton within weeks, a huge success for the industry considering this year’s crop is predicted to be a record 5.5 million bales. Cotton Australia also believes growers are well-positioned to market the 2023 crop despite global volatility. Cotton Compass, a Cotton marketing news service, predicts that 95% of the 2022 crop is now sold, and 36% of the 2023 crop is forward sold.
Australia is the leading supplier of high-quality cotton fiber with a track record of continual improvement. World-leading plant breeding, and modern farming systems, including 100% mechanical picking and state-of-the-art ginning, make Australian cotton the preferred upland fiber for fine yarn counts.
Adam Kay, Cotton Australia’s chief executive officer, said these results are positive considering deteriorating consumer confidence amid rising interest rates and inflationary pressure, the impact of China’s COVID lockdown policy, and the war in Ukraine.
In the next six months, ACSA will work to create increased demand for Australian cotton through in-market visits to Vietnam, Thailand, India, Bangladesh, and Turkey and a range of communication activities with brands and supply chain partners.
