Cotton demand to rise in Myanmar as textile plants reopen
The demand for cotton in Myanmar is expected to rise and production likely to double with the reopening of government textile factories this year, say traders. Government-owned and private factories have ordered up to 4.08 million kg since the start of the July-September cotton production season and traders have sold out all their stock.
Textile factories administered by the industry ministry also placed their orders, which increased the cotton price to Kyat 3,600 a viss (a viss equals about 1.632 kg), according to a report in a prominent Myanmar daily.
Most government textile factories didn’t run the mills in the last few years. Last year, cotton production declined due to heavy rains in July, August and November.
If the weather remains conducive, this year’s production will reach 30 million viss, but we need to wait to see the weather in October, said Myanmar Cotton and Cotton Products Merchants and Manufacturers Association’s secretary U Aung Myint.
Myanmar’s cotton production, which usually takes place from July to March, faced difficulties accessing seeds this year. The cultivation season is already over. About 768,286 acres were under cotton cultivation in fiscal 2016-17. Many textile factories are now turning to locally produced cotton instead of procuring from abroad, the report added. (DS)
Source From: Fiber2Fashion.com