There was a sudden cancellation of shipment of about 400,000 bales of cotton by the Indian traders to Bangladesh. This would have a negative effect on the apparel industry of Bangladesh, said an industry insider.
“It is a sad incident,” said Abdul Hai Sarker, chairman of Purbani Group that imports 30,000 bales of cotton annually, their 15 percent of cotton comes from the neighboring country.
About 46 percent of Bangladesh’s annual requirement of the natural fiber is met by India. “Indian cotton traders have cancelled contracts involving 400,000 bales of the natural fiber after a rally in domestic prices and the rising rupee made overseas sales unattractive”, said Atul Ganatra, president of the Cotton Association of India.
Prices were surged more than 15 percent in past 6 weeks due to pest infestations affected supplies in India which is world’s biggest producer of the natural fiber.
Mohammad Hatem, former vice-president of the Bangladesh Knitwear Manufacturers and Exporters Association said, ‘As the consequence of this latest move by the Indian traders, the local spinners have increased prices of yarn.’
The present selling price of 30-count yarn in the local market is $3.30 a kilogram, which is higher from $2.90 to $2.95 in first week 2018, he informed.
due to lack of competition. This is true in all living beings including microbes and insects. Increase in pink bollworm is essentially due to lack of competition from other bollworms.”
The FSII is a research based seed and seed technology association that provides high-quality of seeds to the farmers. More than 10 of the companies associated with the association looked after 40-45 percent of hybrid Bt cotton seeds in kharif season of 2017.