Bangladesh cotton imports expected to rise in MY 2021-22: TexPro

Bangladesh imported 7.5 million 480 lb bales in MY 2019-20 as well as in MY 2020-21, according to Fibre2Fashion’s market analysis tool TexPro.

The cotton production of the country has remained between 0.140 to 0.150 million 480 lb bales in the last couple of years.

The total domestic cotton consumption was 6.910 million 480 lb bales in MY 2019-20, which increased by 14.47 per cent to reach 7.910 million 480 lb bales in MY 2020-21 despite the COVID-19 pandemic. It is expected to remain the same in MY 2021-22 due to sustained demand for yarn, fabric, apparel and garments as the world economies slowly recover from the pandemic.

In MY 2021-22, textiles and clothing players started heavily using their cotton stocks owing to the high international prices of yarn. Cotton garments were approximately 80 per cent of the total garments produced in the country.

Domestic spinners fulfil the requirement for 90 per cent of the raw materials for knitwear and 40 per cent for the woven garments sector.

ALCHEMPro News Desk (KD)