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India to cancel the cotton export contract yarn price soared - Bangladesh Textile information - Textile net - Textile integrated service provider
According to media reports, 46% cotton imports from India, Bangladesh, imports of about $3 billion a year. Indian traders abruptly cancelled 400000 bales of export contracts bring a heavy blow to mills in Bangladesh. A cotton mill in Bangladesh every year to import 30000 bales cotton, 15% from India. Bangladesh knitting clothing manufacturers and exporters association, affected by the release of India, Bangladesh mills has been an increase in the price of yarn. At present, the domestic price of the yarn is 30 Bangladesh has up to 3. $30 per kilogram, much higher than in the first week of 2. 90 - 2. $95 / kg, 14%. Bangladesh cotton association believes, however, the Indian cancel the contract quantity is limited, so the impact on the textile mills in Bangladesh is not large, textile mills can choose other varieties of cotton, such as the cotton, Australia, Brazil and west Africa with cotton, cotton, etc. Now need to find reliable procurement buyers in Bangladesh to ensure raw material supply. 2016/17 fiscal year, imported 6. 5 million bales cotton, Bangladesh is higher than last year's 5. 5 million bales. Bangladesh cotton imports this year, is expected to reach 7. 1 million bales.