According to Mr Shimazaki, everything that the industry does about lifting quality is important, but it risks losing relevance if it does not soon return to sizable crops.

Speaking at the Australian Cotton Conference recently, he told delegates this message – which came as little surprise to most.

"To win back markets, you need volume," he said. "You need two million bales every year. Everything I have to say is based on your cotton being available."

He said that Australian cotton had already lost some of its relevance in the marketplace, including in Korea where buyers were shying away from the premium prices during our drought times.

"The San Joaquin Valley (SJV) crop is continuing to decrease, but at the same time the drought in Australia has provided an opportunity for other pretenders to the Australian thrown," he said.

"Fibremax has been increasing its length over the last five years, as well as its other attributes. Brazil has also been lifting its quality.

"Indian cotton is contaminated, so it is not a threat to your premium markets.

"The worry is if they overcome the contamination issue though."

He said though that he remained a keen supporter of Australian cotton, as is the case for many in the Asian region.

"Australia has the combination of quality and location advantage, and you are in the same time zone as most of the Asian market, and can land cotton in Asia in 10-14 days."

Beyond producing volume, he said Australia could also cement market share by continuing to raise the quality bar.

"There is more improvement to be done. Australia is also one of the few countries where eco friendly cotton can be produced with transparency and reliability."

According to Queensland Cotton chief marketing officer, Bob Dall'Alba, it is about realising the niche nature of Australian cotton, and working on this regard.

Because, as he points out, the Australian crop price has averaged 116pc of the Cotlook A Index over the last decade.

"Australia is right on the top of the list with SJV. I believe it is a niche product and our future prosperity depends on it," he said.

"We need to be getting around $500/bale as we are a high cost producer.

"We also need to extend our cotton into the extra fine segment of the market."

* Extract from Australian Cotton Outlook, out September 11.