Bangladesh: Cotton and Products Update
Link to report:
Post lowers the forecast for marketing year (MY) 2023/24 raw cotton imports to 7.5 million bales on lower work orders for garments coupled with Bangladesh’s economic challenges including declining foreign exchange reserves. The export value of ready-made garments (RMG) reached a record high at $47.6 billion despite lower imports of raw cotton, yarn, and fabric in MY 2022/23. The utilization of previously stocked fabric and accessories, the use of man-made fibers, and the manufacturing of high-value products contributed to the increase in exports. In MY 2022/23, Brazilian cotton had the largest market share at 16 percent, followed by India at 12 percent, and the United States at 10 percent.
