Bangladesh, which grows about 180,000 bales (1 bale=218 kgs) of cotton in a year or 1 per cent of the annual demand, now aims to grow I million cotton bales by 2025. The country is now the biggest importer of cotton in the world and spends more than $3 billion on cotton imports annually, of which, India meets 50 per cent of the current cotton demand.
Bangladesh has planned to meet 10 per cent of the country’s yearly demand by cultivating cotton domestically he end of 2025, by growing 180,000 bales, a leader of Bangladesh Cotton Association (BCA) told reporters.
He said most farmers in various districts of Bangladesh have switched over to cotton leaving tobacco cultivation, as cotton offers them better returns. He shared the opinion that the Bangladesh cotton industry must stop relying on just one or two countries for cotton imports, as sometimes, there are challenges which importers have to face.
In response, a leader of Bangladesh Textile Mills Association (BTMA) informed that cotton imports from African countries have risen significantly in recent times, to reduce dependence on India.
Bangladeshi spinners and cotton traders are now importing more than two million bales of cotton from various African countries like Burkina Faso, Benin, Chad, Lesotho and Sudan, with USA and Australia also becoming major sourcing destinations, he said.
