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| Bangladesh turns to Africa for cheaper cotton following a sudden ban on cotton export of India |
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Bangladesh is considering sourcing cotton from Africa following India's ban on export of the textile raw material.
"We will utilise the scope to import low-cost but high quality cotton from the African countries," said commerce minister Faruk Khan early this month (September) at a recent event on Bangladesh cotton marketing and textile training organised by the Bangladesh Textile Mills Association (BTMA), International Trade Centre (ITC) and Bangladesh Cotton Association (BCA).
Prices of cotton spun yarn doubled to 90 cents a pound in April, driven by increased global demand and a ban on cotton export by second largest producer India, local media reports. Bangladeshi spinners are under pressure as most of cotton processed in the country is imported, and some 15% had been from India before the export ban was imposed.
BTMA president Abdul Hai Sarker commented that the Sub-Saharan countries can become the country's main source for cotton. Bangladesh on an average consumes four million bales of cotton a year, whereas the Sub-Saharan nations are capable of producing around 200 to 300 million bales of the textile raw material per year.
Nonetheless, shipment schedule is a concern. It currently takes months to ship the materials to Bangladesh. In view of this, Bangladeshi spinners/importers have proposed them to establish a buffer stock in Bangladesh's ports so that cotton can be available within two to three days.
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