Australia is set to emerge as a key supplier of cotton to Bangladesh, hoping to take advantage of forecasts that suggest doubling of imports of the raw material within four years, reported an online news portal ‘just-style.com’. ‘just-style.com’ is a UK-based online news, insight and research portal for apparel and textile industry. A Bangladesh delegation visited Australia earlier this month to learn more about the latter’s cotton export capability and identify new suppliers for Bangladesh’s expanding textile manufacturing sector. A 10-member delegation from the Australian Cotton Shippers Association (ACSA) visited Dhaka earlier this year to highlight Australia’s cotton export capability, quality attributes and latest research. Bordered by India and Myanmar, Bangladesh is currently the second largest cotton importer in the world with ready-made garments accounting for nearly 80 per cent of the country’s export revenue. The report quoting Tim Martin, the New Delhi-based trade commissioner and Bangladesh country manager for Austrade, said, “Yet, as only 0.1 million bales are produced locally, Bangladesh imports more than 6 million bales of cotton. This is projected to double within four years and see Bangladesh overtake China as the world’s largest importer of cotton.” Australia is also the world’s fourth largest cotton exporter and has earned a reputation as a reliable supplier of high-quality cotton which has almost zero contamination, the report added. While China remains the largest customer for Australian cotton, it has reduced imports as it works through its extensive stockpiles. Citing recent forecasts from the International Cotton Advisory Committee (ICAC), it added that mill use in China is forecast to decrease by 3 per cent, to 7.1 million tonnes in the upcoming year due to high cotton prices, low polyester prices, and limited imports. Shipments to Bangladesh, however, are expected to rise by 18 per cent.
