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04 Oct 2019

Namoi ASX Release Trading Update 2019

Persisting negative local and global market conditions have resulted in the need for Namoi Cotton Limited (‘Namoi’) to update the market on key factors which will impact the financial results for FY2020 and FY2021. These include:

• the ongoing severe drought conditions prevailing in inland New South Wales and Southern Queensland, and the related impact on cotton production and hence cotton supply to our ginning and marketing operations, impacting the balance of FY2020 and more significantly FY2021;

• current international commodity trading conditions having reduced demand for raw lint cotton and resulted in softer cotton prices. This has had a negative impact on delivery volumes and pricing of cotton for the Namoi Cotton Alliance (“NCA) business, of which Namoi Cotton has a 51% interest; and

• a significant increase in the global supply of cotton which is impacting the trading margins for NCA.

Read more from the announcement

Contact Us

Phone:07 4631 6100
Corporate Office:1b Kitchener Street, Toowoomba Qld 4350 Australia
Head Office:27 Trucking Yard Lane, Wee Waa NSW 2388 Australia
Mail:PO Box 1333, Toowoomba Qld 4350 Australia

Corporate Office Operating hours:

Monday - Friday8am - 5pm

 

For a full list of our locations and their contact details, please visit our locations page.

see where — our locations
For Cottonseed & Trash Enquiry, please go to our Cottonseed Marketing Page

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Contact Us

Corporate Office

Head Office

Contact Us

Phone:07 4631 6100
Corporate Office:1b Kitchener Street, Toowoomba Qld 4350 Australia
Head Office:27 Trucking Yard Lane, Wee Waa NSW 2388 Australia
Mail:PO Box 1333, Toowoomba Qld 4350 Australia

Corporate Office Operating hours:

Monday - Friday8am - 5pm

 

For a full list of our locations and their contact details, please visit our locations page.

see where — our locations