Queensland'S Flood Is Expected To Cause More Than 100 Thousand Tonnes Of Cotton Production.
ANZ bank said 7. Flood in Queensland Not only does it affect the export industry of coal mines, but agricultural production is also affected. The floods may cause a significant reduction in cotton and sugar production, but have limited impact on wheat and beef exports.
Australia & New Zealand Banking Group Ltd. (ANZ.AU), 7, said that heavy rain and severe floods in Queensland, Australia may cause significant reductions in cotton and sugar, but have limited impact on wheat and beef exports.
Queensland is a major producer of sugar, cotton and beef in the world, and the flood is against Queensland.
Cotton yield
The overall impact is still hard to estimate.
AgForce, a farmer lobby group, had previously predicted cotton caused by floods.
Reduction of production
Will exceed
100 thousand tons
。
Officials estimate that by 2011 or April, cotton production will reach 900 thousand tons, and the reduction will be equivalent to 10% of the official estimated output.
But even so, Australia's cotton output will double in 2011, compared with the same period last year, the ANZ bank said.
Queensland's cotton production generally accounts for 25%-35% of Australia's total cotton output.
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