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May 28, 2020

Cotton market may benefit from Myanmar’s GSP reinstatement

COTTON farming is experiencing a resurgence in Myanmar since it was reinstated into the Generalized System of Preference (GSP), a preferential tariff scheme of the World Trade Organization, according to a report of Myanma Alinn Daily newspaper.
High quality cotton varieties currently trades for about US$ 230 more per ton in the international market than in the domestic market. Myanmar’s main cotton export market is China, but after its GSP status has been restored Myanmar can target the potentially more lucrative markets of Europe and the United States, U Kyaw Lin, a cotton merchants’ spokesperson, told Myanma Alinn Daily newspaper.
The Agriculture Department is planning a series of cotton production trainings, which will include cultivation methods, pest control technologies and other measures meant to increase yield and quality. Vinyl posters with cotton growing tips for popular varieties will be printed and distributed to farmers who produce more than 1,000 viss (3.6 pounds equals a viss) per acre.
Cotton is primarily grown in Mandalay, Nay Pyi Taw and Sagaing regions. A viss of cotton is worth Ks 7,000 during harvest season, said U Soe Shwe, a grower from Yamethin Township, Mandalay Region, the nation’s main cotton wholesale market.
At Yamethin, cotton harvests are processed, packed and sold to foreign trade partners. –Zar Lin Thu (AMIA)


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