African nations have become the largest source of cotton for local Bangladeshi spinners and millers as they intend to cut down their dependence on a single source (India) for their vital raw material. Last year, Bangladesh met 37.06pc of its requirement for the white fiber from East and West African countries. Down from 60pc, India accounted for 26.12pc of Bangladesh’s total cotton imports.
Mr Mehdi Ali, President Bangladesh Cotton Association said, “A section of Indian cotton traders cannot maintain timely shipment and deliver the right quantity of cotton as per agreement.”
Last year, 11.35pc of the cotton came from CIS countries, 11.14pc from the US, 4.65pc from Australia and 9.65pc from the rest of the world. Bangladesh imported 8.28mn bales of cotton and produced 1.65 lakh bales of cotton which is less than 3pc of the annual demand of 10mn bales.
Mr Monsoor Ahmed, BTMA Secretary said, “The low quality of the Indian cotton is the main reason behind the falling imports from the neighboring country.” The board hopes to produce 2.5 lakh bales of cotton by 2021, which will meet nearly 5-7pc of the domestic consumption.
