Reuters :
Bangladesh may import 1 million bales from American suppliers in 2022-23, up 43% y/y amid rising domestic use, the US Department of Agriculture’s Foreign Agricultural Service said in a report.
The nation’s total overseas purchases may rise 2.3% y/y to 8.9 million bales.
According to the report, Indian cotton took 29% share in calendar year (CY) 2021, followed by Brazil, Benin, and US.
Bangladesh produces very little cotton and must bring from abroad almost all the raw material used in its vibrant textile industry
Consumption to rise 3.3% y/y to 9.3 million bales of 480 lbs each.
In CY 2021, Bangladesh’s ready-made garment exports reached a record high of $35.8 billion, becoming second-largest exporter after China.
