Australian Cotton Shippers Say Loss Estimate May Rise

Cotton crop losses from flooding and heavy rainfall in Australia, the fourth-largest exporter, may increase if wet weather continues, Australian Cotton Shippers Association Chairman Arthur Spellson said.

“We have probably already lost about 300,000 bales but that could go up, it just depends on what happens with the weather from here on in,” Spellson said by phone today. The Brisbane-based group had been forecasting record output of more than 4 million bales, he said.