Bangladesh surpasses China to become largest cotton importer

New data shows that Bangladesh has surpassed China to become the largest cotton importer, and the country’s forecast will be adjusted upward in the next fiscal year.

According to the US Department of Agriculture (USDA), Bangladesh imported 6.2 million tons of cotton bales in 2015/16, an increase of 500,000 bales in the previous year. At the same time, consumption increased by 300,000 bales to 6.1 million bales as market reports confirmed the growth of the spinning industry.

In 2016/17, the USDA predicts that imports will increase by 400,000 bales, reaching 6.3 million tons, and usage will be 6.4 million tons. This boosted Bangladesh’s import volume percentage to just over 18%, more than double what it was five years ago.

USDA explained: “Bangladesh cotton imports have undergone huge changes, which in turn has affected various cotton exporting countries, especially the production areas of West African countries, such as Benin and Burkina Faso, as well as Central Asian countries. Such as Uzbekistan. In fact, Bangladesh’s demand for Uzbek cotton has proven to be much greater than previously thought, leading to a significant upward revision of Uzbek export estimates for 2015/16.”

China lagged behind Bangladesh in 2015/16, importing 4.4 million tons of cotton bales, compared with 8.3 million bales the previous year. In 2016/17, China imported an estimated 4.5 million bales.

At the same time, the US Department of Agriculture will increase Indian cotton imports in 2016-17, with imports reaching 1.5 million bales at the beginning of the season. For Indonesia, based on higher domestic consumption, imports are estimated to have increased by 100,000 bales to 2.9 million bales.

Among exporting countries, the United States is estimated to export 1.2 million bales in the next fiscal year, an increase of 500,000 bales from earlier estimates due to strong import demand.

For Brazil, a smaller crop will result in a reduction of 0.5 million bales to 2.9 million bales, while Australia’s significantly larger harvest is estimated to push exports up 800,000 bales to 4.2 million bales. Meanwhile, exports from Benin and Mali are estimated at 700,000 bales and 1.2 million bales respectively.

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