US Cotton Traders Pressure Politicians To Save Deals With Bangladesh Factories.

Cotton Traders asked their politicians to pressure Bangladesh's textile factories to buy their cotton at a much higher price than the market price.

They asked American politicians to raise the issue to the Bangladesh government so that relevant actions could be taken.

Recently, some textile factories in Bangladesh have cancelled part of their futures contracts with us cotton exporters because of price fluctuations.

But cotton traders in the United States put pressure on politicians to restore these contracts.

The People's Republic of Bangladesh

Gil, the chairman of the BTMA, confirmed this proposition.

However, he said that for Bangladesh textile factory owners, this is not a problem, nor is it a problem for factory owners in Indonesia, Thailand, Vietnam or India.

A delegation of representatives from the international cotton Commission (NCCA), the United States Cotton Spinning Mills Association (ACSA), and AMCOT held a meeting with the US trade representative and US Secretary of state on 25-26 September.

According to the statement, the leaders of the US cotton industry said that these contracts were worth nearly US $1 billion, which involved the sale of about 4000000 bales of cotton, which were not fulfilled by some cotton importers or faced the risk of failure, including Bangladesh.

Ricky Clark, President of the American Cotton Spinning Mills Association, said that textile mills in several countries, including Bangladesh, Indonesia, Thailand and Vietnam, failed to meet millions of dollars worth of raw cotton.

The contract led to huge economic losses for cotton wholesalers and distribution companies in the United States.