Notwithstanding the COVID-19 pandemic, Bangladesh’s cotton import in the 2019-20 marketing year (MY) grew by about 9 per cent to 75 lakh bales.
This is as per data from the United States Department of Agriculture (USDA).It may be mentioned here that MY begins in August and ends in July.
Speaking to the media, Secretary to the Bangladesh Textile Mills Association (BTMA), reportedly, maintained that since many consignments were signed earlier but imported later, cotton imports continued even amidst the coronavirus crisis.
The BTMA Secretary further added that sales in the primary textile sector were disrupted in April-May subsequent to the outbreak of the pandemic, but sales started to peak again as markets reopened.
US’s cotton exports — the US cotton market share was approximately 14 per cent in MY2019-20, which is second to India’s 23 per cent market share — to Bangladesh in MY2019-20, reportedly, reached 1.06 lakh bales, up 28.9 per cent from that of MY2018-19.
