
The US dollar appreciating massively against Taka along with faltering gas pressure in supply line seem set to impact Bangladesh’s cotton import this year adversely as import is projected to go down.
Media reports claimed this.
Meanwhile, speaking to the media, the President of Bangladesh Textile Mills Association (BTMA) Mohammad Ali Khokon reportedly underlined Bangladesh is supposed to import nine million bales of raw cotton at the end of the current marketing year of cotton in September as he apprehends the amount will be around eight million bales even as almost all spinning and weaving mills in Bangladesh have been running at just over 30 per cent capacity because of the inadequate pressure of gas at industrial units, claimed Khokon.
Reports further maintained each US dollar was sold at Taka 91 even in June last year, which has now climbed to Taka 110 on account of shortage of dollars, which have lead importers, especially of consumer goods, to cut back on opening letters of credit (LCs).