Australian growers appear certain to be 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 Chief Executive Officer Adam Kay 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.
He added there was still strong demand for local cotton and growers are expecting positive returns from the 2022 crop.