Estimates and forecasts for Bangladesh consumption and imports have been revised substantially upward this month as more detailed 2015/16 data has become available, specifically customs and Central Bank monthly import data. The new information is supported by data from Bangladesh trading partners when available.
Imports are raised by 500,000 bales in 2015/16 to 6.2 million, reinforcing Bangladesh’s position as the world’s largest importer in 2015/16. Meanwhile, consumption is raised a more moderate 300,000 bales, to 6.1 million, as market reports attest to growth of spinning.
For 2016/17, imports are raised 400,000 bales to 6.3 million and use to 6.4 million. The increase in imports raises Bangladesh’s share of global imports to just over 18 percent, more than double that seen 5 years before.
This large change in Bangladesh’s imports in turn impacts various cotton exporters, especially West African origins such as Benin and Burkina Faso, and Central Asian countries such as Uzbekistan. Indeed, demand in Bangladesh for cotton of Uzbek origin has proven to be substantially stronger than was previously believed, resulting in a substantial upward revision to the 2015/16 Uzbek export estimate.