Bangladesh is the second-largest exporter of ready-to-wear clothing in the world, earning more than $35 billion in annual revenue. Even though cotton is a major raw material for the clothing sector, the country must pay $5 billion in import bills yearly because of its strong import dependence on the commodity.
Since the introduction of pest-resistant Bt cotton in 2002, India, Bangladesh’s immediate neighbour, has switched from being a cotton importer to an exporter. Indian cotton exports have surged during the past two decades, and the country now accounts for roughly a third of Bangladesh’s overall import volume. Regulators in Bangladesh finally made an inroad on Thursday, primarily agreeing to introduce Bt cotton in the country after an extremely long regulatory process. Once Bt cotton is launched in Bangladesh, it would be the country’s second genetically engineered (GE) product, following the introduction of Bt brinjal in 2013. Four years have passed since authorities last approved GE’s Golden Rice, which is vitamin A-enriched. Bt cotton might herald in a new century for Bangladesh’s garment industry by reducing reliance on foreign fibers and enabling farmers to earn more by increasing yields from the same land area without having to use dangerous pesticides.
Bangladesh’s native cotton cultivars can only produce 3 tons of cotton per hectare because of their low yield potential.
In contrast, officials approved two Bt lines that would yield more than 4 tons per acre. Additional benefits include avoiding the use of pesticides in the fight against bollworm, a moth larva that damages cotton crops. Over Tk100,000 more per hectare of Bt cotton could be earned by farmers compared to traditional cotton types, according to field experiments conducted by the Cotton Development Board (CDB).
The USDA previously predicted that Bangladesh will need to import roughly 9 million bales of cotton in 2022-23, compared to a measly 155,000 bales of cotton produced in the country at the time. By 2021, Indian cotton will account for 29% of Bangladesh’s cotton market, with Brazil, Benin, and the United States rounding out the top five.
Reference:
“Brazil Wants to Increase Cotton Supply in Bangladesh.” Dhaka Tribune, 15 June 2022, https://www.dhakatribune.com/business/2022/06/15/brazil-wants-to-increase-cotton-supply-in-bangladesh.
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