The 2019 Australian Cotton Comparative Analysis report has been recently published.
The analysis is conducted annually by Boyce Chartered Accountants, the largest regionally based accounting firm in Australia, in conjunction with the Cotton Research and Development Corporation (CRDC).
The 2019 analysis is the fifteenth report to be produced by Boyce and CRDC. From 1986 to 2004 the report was published independently by Boyce.
The aim of the study is to collect and critically analyse data that will assist the industry to grow and develop sustainably through a focus on best practice techniques. The study is regarded by the cotton industry as the benchmark for the economics of cotton growing in Australia.
The 2019 report is based on sample figures from participants who produce 165,000 bales, which is approximately 8% of the total Australian cotton production.
The 2019 report reveals that the average group achieved a loss per hectare of $156, down from $2,234 in 2018 which was the highest in the reports history.
It was still an excellent season for growers in the top 20% group, with a profit of $3,515 per hectare compared to the five year average of around $3,295.
Report co-author Hamish Cullenward, a director of Boyce Wagga, noted that ‘those who had access to cheap water and pre-sold cotton when prices were high did very well.
Boyce and CRDC encourage all growers to consider participating in the benchmarking study as a way to greatly enhance understanding of the key drivers that consistently define the top cotton producers in Australia.
The 2019 Australian Cotton Comparative Analysis can be downloaded here.
For more information contact Simon Sellars or Hamish Cullenward at Boyce Wagga on 02 6971 0600.
