Africa becoming major cotton selling country for Bangladesh
Bangladesh, one the largest importer of cotton in the world, procured around 37% percent of its cotton from African countries last year. According to data from the Bangladesh Textile Mills Association (BTMA), India accounted for 26.12 percent of the total cotton imports, down from more than 60 percent two years ago.
In 2018, 11.35 percent of the cotton came from the CIS (Commonwealth of Independent States) countries, 11.14 percent from the US, 4.65 percent from Australia and 9.65 percent from the rest of the world.
The major reason behind this fall of Indian cotton imports is- the concentration of moisture in the Indian cotton is higher than in other countries’, which makes it difficult to store in the warehouses for a long time along with low quality cotton and discrepancy in amount agreed on papers and what actually sent.
In 2018, Bangladesh produced 1.65 lakh bales of cotton, which is less than 3 percent of the annual demand for 10 million bales. It imported 8.28 million bales of cotton worth $3 billion
The government of Bangladesh is now also looking at focusing on local production. The Cotton Development Board of the country is exploring new farming lands. The board hopes to produce 2.5 lakh bales of cotton by 2021, which will meet nearly 5-7 percent of the local consumption.Bangladesh News South Africa Textile Value Chain