Bangladesh hopes to secure cotton agreement with - sportstextiles: Lea SportsTextiles

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Bangladesh hopes to secure cotton agreement with India

13/04/2012
Reports from Bangladesh say the government there is trying to set up an agreement with cotton suppliers in India to import 1.5 million bales of the fibre a year. The commerce ministry in Dhaka said this would ensure a smooth supply of raw fibre to spinners in Bangladesh.

Although importing the cotton would be left to private-sector operators to organise, the Bangladeshi government is working to set up an agreement with its counterpart in India because the government in New Delhi has put a block on exports of cotton fibre to avoid supply pressures on its own textile industry.

India’s textile minister, Anand Sharma, will visit Bangladesh for talks on May 5.

Industry sources in Bangladesh have estimated that the domestic textile industry will consume 3.5 million bales of cotton during financial year 2011–2012, a decline of 5.5% compared to the previous financial year. Bangladesh’s financial year runs from July-June.

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