By admin       2017-07-13

Bangladesh has taken initiative to begin cultivating genetically modified organism (GMO) cotton or Bt cotton in order to boost the crop's production, according to Matia Chowdhury, agriculture minister of the country. The decision to cultivate Bt cotton has been taken as the harmful pest bollworm is posing as an obstacle in increasing the production of the crop in the conventional method so, Bangladesh has initiated Biotechnology based BT cultivation to boost cotton production. Chowdhury disclosed this information while replying to a query that was raised in Jatiya Sangsad.She also said that the Cotton Development Board (CDB) has set up demonstration farms to introduce the new cotton variety. Initiative will be taken to extend its cultivation after the trial period by distributing it to farmers, said Bangladeshi media reports quoting Chowdhury. The 'research development for developed variety cotton and its seed' project is also underway to develop a variety of cotton which is high-yielding and takes relatively short time for cultivation, she added. She said that the government has provided training to 60,000 farmers on modern cotton cultivation and set up 3,050 demonstration plots under a project for increasing cotton production the country. Cotton is the main raw material for textile industries and the country has to import cotton for meeting the demand of the textile industries. The country has 5,000 garment factories and 450 spinning mills. Bangladesh produced 1.56 lakh bales of cotton during the last financial year 2016-17 and cotton production is gradually increasing every year. USDA: July cotton supply and demand estimate:The U.S. 2017/18 cotton projections show production is 200,000 bales lower than last month. With no change in domestic use or exports, ending stocks are also revised down 200,000 bales. The decrease in the crop projection is attributed mainly to lower planted area as indicated in the June 30 Acreage report, combined with slightly less favorable assumptions about abandonment based on current conditions. The projected range of 54 to 68 cents per pound for the marketing year average price received by producers is unchanged on the lower end and reduced 6 cents on the upper end; the midpoint of 61 cents is reduced 3 cents from last month. Higher production is increasing this month’s global cotton stocks forecasts for both 2016/17 and 2017/18. The world carryin for 2017/18 is increased 934,000 bales owing in large part to an upward revision of 500,000 bales for India’s estimated 2016/17 crop. World 2017/18 production is increased 636,000 bales, despite the lower expected U.S. crop, mainly on increased area expectations for India. Production is also raised for Turkey, but is lowered for Pakistan and Mexico. World consumption is also forecast higher in both 2016/17—up nearly 200,000 bales—and 2017/18—up more than 500,000 bales. World 2017/18 ending stocks are now projected at 88.7 million bales, an increase of 1.0 million from the June forecast.

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