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Tandou Profit Defies Falling Cotton Prices

04 September 2012

AUSTRALIA - Despite plunging cotton prices, agribusiness Tandou has reported more than $7.5 million profit before tax.

Localised flooding around Menindee in western New South Wales (NSW), where the company has a large cotton farm, hasn't put a dampener on the company's success, as it makes plans for a 6,500-hectare cotton crop, reports ABC Rural.

CEO and managing director Guy Kingwell says water investment and diversifying into wheat and soy has contributed to the company's success.

"With the very high prices of wheat and soy, we would expect significant movement of acreage into those crops," he said.

"On the global scene it's very positive on the medium term for cotton pricing.

"The cropping areas get allocated based on the high value crops."

TheCropSite News Desk

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