Bangladesh Overtake China as Largest Indian Cotton Importer

For the first time, Bangladesh will beat China to emerge as the largest importer of Indian cotton. Where $416.14 million of China cotton imports, while $613.16 million of Bangladesh bought cotton from India. Global giants like the US and China have shifted their cotton imports away from India while Bangladesh is steadily importing more and more from India. Just few years ago, China imported cotton from India more than four times from Bangladesh.

According to one Indian top news portal,
“Bangladesh in recent years aggressively inviting foreign companies here. These include India, Pakistan and China companies. Bangladesh is an emerging power in the clothing manufacturing sector and because of the cheap labor available in many countries in Europe are exported duty free.”

According to a recent report, of the US-based International Cotton Advisory Committee (ICAC), year-ending stocks in China dropped 13% to 11.3 million tonnes in 2015-16 (marketing year that runs from October through September), as the government there sold over 2 million tonnes from its official reserves from May through September 2016. “In addition, the government is planning to begin sales from its reserves in March 2017 when the majority of the new crop will have been sold,” the ICAC said.

Textile Tribune News Desk

9:27 PM