The Bangladesh Textile Mills Association or BTMA has maintained, there is no scope to reduce yarn price further as cotton prices in the global market are high even as spinners in Bangladesh have kept yarn prices unchanged since 10 August (since 10 August, spinners have, reportedly, been selling the widely consumed 30-carded yarn in the range of US $ 4.20 to US $ 4.30 per kilogramme).
Media reports maintained this while adding the President of the BTMA Mohammad Ali Khokon, said this recently while maintaining that since December last year, cotton prices in the international market rose by 47 per cent even if cotton yarn prices increased by 37 per cent and demand for cotton yarn by 22 per cent and, further went on to add that all these happened because of increased demand for comfortable knitwear (which are made from the cotton fibre) subsequent to people (end consumers) staying home for long periods owing to the COVID-19 pandemic.
It may be mentioned here that the BTMA President is said to have sent letters to the spinners requesting them not to increase yarn prices any further as the local customers – knitters, weavers and terry towel makers – have been voicing their disapproval.
