India wants to sell cotton to the garment sector in Bangladesh, hoping that Bangladeshi buyers will be interested in importing the commodity at competitive prices. A number of buyers in Bangladesh are keen on purchasing Indian cotton. Bangladesh’s cotton imports touched a five-year high of 0.99 million tons from April 2014 to March 2015, against 0.89 million tons in the same period last fiscal. Vietnam also imported 28 per cent more fiber this year.

India has put Bangladesh and Vietnam in focus for its cotton exports as its perennial buyer, China, has become slow in cotton and yarn purchases from around the world. China’s cotton import has fallen by 47 per cent. As the cotton stock rose to a record 9.1 million tons in India, the public sector Cotton Corporation of India (CCI) is planning to float international tenders to sell cotton.

CCI will initially float a tender to sell 5000 to 10,000 bales. The first such tender will be floated to observe the acceptability of buyers for which norms and modalities are currently being worked out. On achieving success in this tender, CCI may float another tender with higher quantity with an overall target to sell 30,000 bales of cotton this year.