Cotton Australia chief executive Adam Kay said growers had now forward-sold around 50 per cent of next season’s crop, with some growers locking in prices of $670 a bale.
“We are seeing a situation where the supply is less than demand — that is really driving prices,” Mr Kay said.
“The word on the street is that the Chinese crop might not be as good as they thought, the Indian crop might not be as good as hoped, and next season there’s talk that the Brazilian crop might be down by 10 or 20 per cent.”
Be the first to comment