Bangladeshi manufacturers turn to Australian cotton
08/06/2010
Although India eased the restrictions partially last month, Bangladeshi textile firms waiting for 150,000 tonnes of Indian cotton contracted before a April 21 ban, have said suppliers are being too slow to deliver.
Syed Ishtiaq Ahmed, a director of Bangladesh Textile Mills Association (BTMA), has said that Indian suppliers are failing to deliver the negotiated consignments. He said members of his association had turned to Australian cotton suppliers, in spite of higher prices.
The Indian government banned the export of cotton in a bid to control rising prices in the domestic market. On May 21, it said it would exports to Bangladesh and Pakistan of consignments contracted before the ban.
In the face of continued uncertainty, industry sources have said that Bangladeshi textile manufacturers have ordered nearly 30,000 tonnes of Australian cotton in the last few weeks.
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