Bangladesh Intends To Import Cotton Directly To Uzbek
Bengal
Commerce Minister Faruk Khan will visit Uzbek in early November 2010, and the two sides will directly import.
At present, Bangladesh imports 1 million 600 thousand bundles (BALE) of cotton from Uzbek each year, accounting for cotton in Bangladesh.
Total import volume
40%, but most of them are indirectly purchased by European traders through entrepot trade. Therefore, the Bangladesh government plans to import directly from Uzbek to reduce prices to stabilize the rising cotton prices in Bangladesh.
At present, the price of cotton in Bangladesh is between 5 and 5.5 US dollars per kilogram, up 1 US dollars from cotton prices in 2009.
Supplement:
The chairman of Meng knitting and garment manufacturers and Exporters Association (BKMEA) and the chairman of the Meng Textile Industry Association (BTMA) held talks with Minister of Commerce Farooq, and urged the government to give policy support, such as opening up the BENAPOLE land ports of Meng and India, and saving 10 cents per kilogram of imported yarn from India.
This year, every kilogram of yarn has risen from $2.5 to $3.75, and cotton prices have risen from 60 cents to 1.2 dollars per pound.
Bangladesh imported 360 cotton plants from India, Pakistan, Uzbekistan, China, Sultan, the United States and parts of West African countries. Last year, the industry generated foreign exchange of 12 billion 500 million dollars.
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