Issue link: https://viewer.e-digitaleditions.com/i/142338
agribusiness which usually takes just over a third of Australia's cotton export production. Australia is the world's third-largest exporter of cotton after the US and Uzbekistan, and the seventh-largest producer, behind China, the US, India, Pakistan, Uzbekistan and Turkey. Pulling out of a decade-long drought, the Australian cotton industry has been gradually surpassing its own production records. The latest estimates are predicting up to 4.8 million bales for export, up from a projected national yield of between 4.1 and 4.4 million bales. This is a new record on the back of the previous season, which was itself a record-breaking year. The rising fortune of the industry is seeing expanded plantings, with cotton being trialled as far south as Griffith in New South Wales. After months languishing at lower than break-even, prices rose from $360 to $380 per bale in October, and from $400 to $420 a bale at the end of January. "We are optimistic we will be able to get about $450 a bale," says Narrabri grower Brendon Warnock. "Prices have recovered over the course of the season." As at January, Warnock had forwardsold 15 per cent of his crop, which was locked in at $525 a bale. Growers with uncommitted cotton stock are taking heart, and there is industry talk of a 17 per cent price lift over the next 12 months, which would encourage more cotton plantings. Quality and technology Australian cotton is a high-quality raw material. Our exports comprise 10 per cent of the world's total high/medium grade cotton volumes and have the lowest level of foreign-matter contamination, earning a $20–$25 per bale premium. Research is seeking ways to grow usually the latter. It suits the industry's even finer cotton and a product with an highly variable water supply but typically extra-long staple, which could command requires more labour. a further 60 to 80 per cent premium. Technology has seen round-module Meanwhile, according to a May 2012 pickers radically alter the dynamics of overview by PG Economics, research the cotton harvest. Two seasons ago, into genetic modification has provided they accounted for 40 per cent of the "significant economic and environmental national crop; next season, 90 per cent benefits" for cotton. of Australia's cotton crop will be GM herbicide-tolerant harvested that way. Roundup Ready Investment for Fast Fact and its successor, improvement has Cotton and its been a hallmark Roundup Ready by-products are used in the of Australia's cotton Flex, are credited production of a huge range of industry – one of with an estimated products including bank notes, the four Asia-Pacific 30 per cent margarine and rubber. Cotton agricultural sectors reduction in singled out as success overall herbicide is a unique crop, in that it stories in the 2012 use and a 46 per is both a fibre and Greener Pastures report. cent reduction in a food. "Despite facing the use of residual significant challenges over herbicides. And transgenic the past decade, Australian cotton cotton varieties Ingard and Bollgard have cut insecticide/ is a good example of an industry which miticide use by 44 per cent and 85 was able to grow rapidly through foreign per cent respectively. expertise, and strong investment in After weeds and pests, the other infrastructure and R&D." big-ticket item for cotton farmers is For a nation built on the sheep's back, water, delivered to the plants through we've made a pretty good fist of the other pressurised or drip or furrow irrigation, fibre, too.