Business Desk :
Bangladesh is projected to be the top importing country of cotton across the world in the 2017-18 marketing year, according to the latest forecast made by the United States Department of Agriculture (USDA).
The country has already become the largest cotton importer and is going to remain so in the next season beginning on August 1, 2017.
In the last year, Bangladesh imported 1.35 million tonnes of cotton in 2015-16 and expected to import around 1.36 million tonnes in the ongoing year (2016-17).
According to the USDA projection, Bangladesh will import 1.52 million tonnes of cotton in the next season. Vietnam will remain the second largest importer of cotton in the next year as it is now.
USDA forecast also shows that production of cotton would grow by nearly 7 per cent while global consumption is expected to remain above the production. This will result in declining global stocks for the third consecutive year.
“Strong consumption growth is forecast for Vietnam, Bangladesh, China, and India,” said the USDA report.
“More moderate consumption growth is expected in Turkey and Indonesia, as well as some Western Hemisphere countries such as Brazil, Mexico, and the United States,” it added. Consumptions are likely to decline in South Korea, Taiwan, and several consuming countries in the Middle East and Europe.
China will be the largest consumer of global cotton while India will remain the largest producer and the United States (US) the largest exporter.
Bangladesh is projected to be the top importing country of cotton across the world in the 2017-18 marketing year, according to the latest forecast made by the United States Department of Agriculture (USDA).
The country has already become the largest cotton importer and is going to remain so in the next season beginning on August 1, 2017.
In the last year, Bangladesh imported 1.35 million tonnes of cotton in 2015-16 and expected to import around 1.36 million tonnes in the ongoing year (2016-17).
According to the USDA projection, Bangladesh will import 1.52 million tonnes of cotton in the next season. Vietnam will remain the second largest importer of cotton in the next year as it is now.
USDA forecast also shows that production of cotton would grow by nearly 7 per cent while global consumption is expected to remain above the production. This will result in declining global stocks for the third consecutive year.
“Strong consumption growth is forecast for Vietnam, Bangladesh, China, and India,” said the USDA report.
“More moderate consumption growth is expected in Turkey and Indonesia, as well as some Western Hemisphere countries such as Brazil, Mexico, and the United States,” it added. Consumptions are likely to decline in South Korea, Taiwan, and several consuming countries in the Middle East and Europe.
China will be the largest consumer of global cotton while India will remain the largest producer and the United States (US) the largest exporter.
