Propelled by the high demand for cotton by garment manufacturers, cotton consumption in Bangladesh is all set to increase by one million tonnes in 2016, says a study.
According to the International Cotton Advisory Committee (ICAC), which provides statistics on world cotton production, cotton consumption, cotton supply, and cotton trade and stocks, cotton consumption in Bangladesh will rise by 10 per cent to more than 1 million tonnes this year, owing to higher demand from garment makers and favourable government policies for the textile sector.
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Also, according to the data from US Department of Agriculture, Bangladesh runs the strong possibility of overtaking China as the world’s biggest cotton importer in the current crop season, owing to the strong demand for cotton from the garment manufacturers of the country. The US Department of Agriculture report further stated that in the year ending July 31, Bangladesh may import a record 5.75 million bales of the fibre, up 6.5 per cent from a year earlier.
Meanwhile, the ICAC prediction for global cotton output in 2016, especially for USA and China, draw a somewhat different picture. According to the ICAC, cotton production in China and the US, considered the two major countries in cotton production, will decrease by 19 per cent and 18 percent respectively in 2015-16 due to a fall in cultivation, which is being fuelled by less demand and higher cotton stock worldwide.
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However, contrary to the low global cotton output, cotton growers in Australia and some South American countries may expand planted areas by 1 per cent to 2.9 million hectares in 2016, the ICAC report further stated.
