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Queensland Cotton - or Singapore Cotton ? PDF Print E-mail

FWU has received correspondence insisting that we cease our criticism of the cotton industry in Australia.

However we feel that this component of the campaign should be continued for two reasons:

Firstly we believe that the environmental impacts of the activities of the cotton sector are totally unacceptable, and secondly because only a fraction of the industry is actually Australian-owned, and therefore much of the profit generated by these damaging enterprises heads overseas together with the virtual water contained in the product.

By way of illustration, the following is a brief history of "Queensland Cotton":

1921    Established as Australian Cotton Growing Association Limited
1989    Corporatised
1992    Publicly listed
1995    Expanded into NSW
1997    Acquired operations in the USA
2003    Started trading Brazilian cotton; Mt Tyson Seeds acquisition
2005    Started trading Texas cotton
2006    Acquired 3 additional gins in NSW (from Twynam Group)

2007    Singapore commodities firm Olam International, via its subsidiary Olam Australia Pty Ltd, secures control of Queensland Cotton, following which Queensland Cotton Holdings Limited was de-listed from the Australian Stock Exchange. It is now the world’s largest non-government owned cotton processor.

 
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