China is the top country in cotton manufacturing and importing. But the ongoing economic recession and wage increases caused by inflation, which is tough to keep in top place.
According to US Department of Agriculture, Bangladesh may overtake China as the world's biggest cotton importer in the current crop season thanks to strong demand from apparel makers. They said that Bangladesh, China, Pakistan, Vietnam will be the top cotton importer in the fiscal year 2015-16.
According to Bloomberg.com report, in year ending July 31, Bangladesh will import a record 5.75 million bales of the fiber, up 6.5 percent from a year earlier, the USDA said last week. China is projected to import 5.5 million bales, the lowest since 2003.
Bangladesh's share of the global cotton-export market doubled from 1995 to 2012, mostly because of the strong performance of the garment sector, according to World Bank October report.
There are several reasons for the steep drop in Chinese imports. The country is grappling with wage inflation. It has more-than-ample stockpiles: Most of the 104.4 million bales of global stockpiles predicted by the USDA the current crop year are in China.
Textile Tribune-News Desk
According to US Department of Agriculture, Bangladesh may overtake China as the world's biggest cotton importer in the current crop season thanks to strong demand from apparel makers. They said that Bangladesh, China, Pakistan, Vietnam will be the top cotton importer in the fiscal year 2015-16.
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| Cotton |
Bangladesh's share of the global cotton-export market doubled from 1995 to 2012, mostly because of the strong performance of the garment sector, according to World Bank October report.
There are several reasons for the steep drop in Chinese imports. The country is grappling with wage inflation. It has more-than-ample stockpiles: Most of the 104.4 million bales of global stockpiles predicted by the USDA the current crop year are in China.
Textile Tribune-News Desk
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