SOURCE / ECONOMY
Cotton declines from 20% in Nov 2019 to 5%
By GT staff reporters Published: May 28, 2021 09:08 PM
Photo:VCG
The harvest of Australian cotton production, which was once worth A$800 million ($614 million) a year, is now in peril due to the loss of the Chinese market amid frosty bilateral ties.
They are eager to look for new markets, but found out that cotton, just like other farm products such as wine and barley, seemed to be further squeezed out of the Chinese market - also their largest - as strains between the two show no sign of abating.
The China Cotton Association said on Thursday that in April, China imported 78,800 tons of Indian cotton, an increase of 66 percent from the previous month, and an increase of 367 percent from the previous year. ....