Boyce publishes 2013 Interim Australian Cotton report
22 October 2013
The recently published Interim Australian Cotton Comparative Analysis (ACCA) for 2013 reveals that despite a small increased yield, growers’ proceeds were reduced by an average of $210 per hectare.
Boyce Director, Paul Fisher, said that for some time the expectation had been that the ACCA will begin to reflect a sizeable increase in the average yield as some growers have been achieving yields of 12 bales per hectare or higher and individual fields have been reported as yielding as high as 15 bales per hectare.
“The potential is obviously there for considerable average yield increase,” said Mr Fisher.
“Growers have however, again suffered from disasters due to heat and flood and these factors continue to lower the average across the industry.”
Specifically the 2013 season was characterised by:
- Growers tending to plant more cotton than they had water for and subsequently changing some fields to dryland or fallow fields;
- Very little in crop rain until the end of January;
- Severe heat wave conditions throughout January;
- Flooding rains at the end of January over most of eastern Australia, with the western MacIntyre valley experiencing the worst floods on record; and
- Very little rain over an extended picking period.
Mr Fisher explained that although it was recognised that the numbers in the final report will vary from this interim report, it was important to publish these figures before planting of the 2014 crop commenced.
“This will allow growers to compare their individual 2013 results against the average across the industry and to assist with the 2014 budget process,” said Mr Fisher.
Key Findings of the 2013 Interim ACCA
- Cotton proceeds reduced by $210/ha. Whilst the yield was up on the prior year by 0.99 bales/ha, the price was down by $59 per bale. Most growers in the MacIntyre valley are disappointed with their yield having been on track to achieve 11.5 bales/ha. Heavy rains and heatwave conditions in January caused a lot of fruit loss for some growers.
- The cost of ginning increased by $129/ha compared to the 2012 year, but this rise was more than offset by a higher seed price of $155/ha.
- Total costs per hectare were greater than last year by $133/ha ($3,734 in 2013, $3,601 in 2012), with the major variances being savings in insecticide $47 and contract picking $127; increases in expenses including fuel $164, cotton picking sundries $68, repairs and maintenance $93 and wages $68. (Note that some variances may be attributable to the growers who make up the current sample compared to those who participated in the 2012 report.)
If you would like to participate in the ACCA or require further information please contact Paul Fisher, Phil Alchin or David Newnham at Boyce Moree on 02 6752 7799 or your local Boyce office.