Cotton Dollar Oil Has Arrived Off Australia Stock
This country is also beating China and India in cotton production
Cotton production in this country has increased more than 8 times in three years, export is also increasing rapidly
In the list of leading countries of cotton production, countries like America, India and China have held their position for a long time. But Australia is a country that has grown rapidly in the cotton industry in the last few years. Yes, it is true that Australia's name is still very low in the list of leading countries, but its growth is much higher than these countries. According to a recent report by the USDA (US Department of Agriculture), cotton production in Australia is more than 8 times larger in the 3 years from 2019 to 2022. While cotton production in Australia was 0.63 million bales in the first year 19-20, it increased to 2.8 million bales in 20-21 and has increased to 5.5 million bales in the year 21-22. Whereas cotton production in India has decreased in these three years and in USA and China also production has remained almost constant.
boom in exports
After cotton production, Australia's cotton export figures are also shocking. If we look at the report of the last three years, cotton exports from Australia increased to 1.36 million bales in 19-20, while in 20-21 it increased to 1.56 million bales and in 21-22 this figure touched a charismatic level and reached 4.4 billion. Reached.
Last stock also increased
According to the USDA report, Australia has increased its cotton production but its domestic use has not increased. This is the reason why Australia has increased its cotton exports significantly. Australia's closing stock figures have also risen over the past three years. While closing stock was 0.8 million bales in 19-20, it touched 2 million bales in 20-21 while Australia's closing stock increased to 3.07 million bales in 21-22
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