Government figures show economic importance of cotton
Official government data has revealed the cotton industry’s financial contribution to rural and regional communities in Australia. The figures show that cotton contributed more than 10% of crop value in 24 local government areas in the 2020-2021 season.
Industry body Cotton Australia said this contribution is likely to go up because the country’s Bureau of Agricultural and Resources Economics and Sciences has forecast a gross value of cotton production for 2022-2023 at around AUS $3.4 billion (around US $2.4 billion) with expectations that exports will reach a value of AUS $5.1 billion (more than US $3.5 billion) because of shipping delays for the 2022 crop.
Cotton Australia chief executive, Adam Kay, said recent census data proves how important cotton is to the future of many communities.
“We have always known that when a cotton grower has a good year, so too does the community they are part of,” Mr Kay said. “They invest back into their local communities by providing jobs, buying farming essentials like chemicals, diesel, machinery, and fertilisers, while also supporting schools and community groups.”
