After the spinners, the Bangladesh Cotton Association or BCA has now urged garment manufacturers in Bangladesh to negotiate additional prices on their products as cotton prices are on the rise again globally.
The price of cotton started showing an uptrend on 28 September — per pound cotton price was below US $ 1 on 1 September 2021 which is now selling at US $ 1.20 per pound on the global market, reportedly — and it is still showing the same trend, opined BCA president Muhammad Ayub even as addressing a press conference recently, the BCA leaders said that the cotton prices were unlikely to fall anytime soon as the market had become overheated during the harvesting time while the BCA President claimed that cotton was an agricultural produce but it was massively used as an industrial raw material while its pricing was done based on New York Features.
Considering the existing scenario, Muhammad Ayub called upon the Bangladesh Garments and Textile Manufacturers to negotiate additional prices in line with the rising cotton rates.
