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India's share in Bangladesh Cotton imports may fall to 40% this year
Bangladesh’s cotton imports in 2019 are likely to fall 15% from the previous year as lower yarn prices are forcing spinners to cut overseas purchases, said a top official of Bangladesh Cotton Association.
The world’s biggest fiber importer bought 7.2 million bales of cotton in 2018.
Yarn prices have fallen around 10 percent in the local market and with reduced margins of spinners, imports have become less lucrative, the official said on sidelines of Cotton India conference in Mumbai, Reuters reported.
Bangladesh buys most of the cotton from India, the world’s biggest cotton producer.
India’s share in total shipments has been coming down due to quality issues and may stand at 40 percent in 2019 compared with 46 percent a year ago, the association said.
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