Brazil trying to raise cotton export to BD
Trade mission to visit BD June 12-15
FE REPORT | Saturday, 11 June 2022
Brazil is trying to increase its cotton export to Bangladesh to expand global market of the item, sources said.
Two Brazilian trade-bodies - Brazilian Cotton Growers Association (ABRAPA) and Brazilian Cotton Exporters Association (ANES) - are exploring the trade opportunities in Bangladesh, especially its cotton market, they added.
A Brazilian business mission is scheduled to visit Bangladesh on June 12-15.
Its members are scheduled to visit different spinning mills and meet the officials of the Bangladesh Textile Mills Association (BTMA), Bangladesh Garment Manufacturers and Exporters Association, Ministry of Industries, Cotton Development Board, Noman Group, MAS Group, NRG Group, ISRAQ Group, Viyellatex Group, Syed Group and Salma Group.
Bangladesh Embassy in Brazil conveyed the issue to the Ministry of Commerce and other stakeholders concerned.
China is the world's largest cotton importer and the main destination of Brazilian cotton with 30.2 per cent export, followed by Vietnam 16.7 per cent, Turkey 13.2 per cent, Pakistan 11.2 per cent, and Bangladesh 10.6 per cent, according to Datamar news.
Bangladesh annually spends US$3.5-4.0 billion in importing around 8.0 million bales of cotton. It imports cotton mainly from African countries, India, Australia and the US, while Brazil joined the importing country list in recent years.
Bangladesh annually produces only 0.16 million bales of cotton, according to the BTMA.