Final answer:
The transition from dryland to irrigated cotton farming entails financial costs for irrigation setup and operation, environmental risks like ecosystem disruption and water use conflicts, the continued influence of unpredictable weather conditions, and market volatility affecting profitability.
Step-by-step explanation:
Converting from dryland cotton to irrigated cotton involves several risks and uncertainties. Firstly, there is the financial cost of establishing and maintaining irrigation systems. Irrigation infrastructure can be expensive to install and operate, and these costs need to be considered against the potential increase in yield and quality of cotton produced.
Secondly, environmental concerns are a significant risk factor. The diversion of water for irrigation can lead to ecosystem disruption, affecting local wildlife and water availability for other uses. In areas where water is scarce, the competition for this vital resource can create conflict and impact the sustainability of cotton production. Furthermore, there is the risk of soil degradation due to the salinization and waterlogging that can occur with incorrect irrigation practices.
Moreover, agriculture is inherently subject to the uncertainties of weather patterns and climate change. Transitioning to irrigated farming does not completely safeguard against the vagaries of nature; droughts or floods can still damage crops, even in irrigated systems. Lastly, global cotton markets are volatile, and fluctuations in market prices can affect the profitability of cotton farming, whether irrigated or dryland.