Even if cotton prices in the international futures markets have declined sharply but that hasn’t been reason enough to cheer up the Bangladesh spinners and apparel exporters and they have reasons enough for the same including a fall in demand for finished goods, energy crisis and the dearer US dollar.
This is as per media reports which underlined the rising inflation in major apparel export strongholds owing to the Russia-Ukraine war has resulted in a decline in demand for apparel from the end users, which is manifesting in fewer orders from the global buyers.
Speaking to media, the Managing Director of Gazipur-based Asia Composite Mills, Md Masud Rana, said, “We can’t take advantage of the lower cotton price for two reasons: the dollar crisis and the lower gas pressure,” even as he reportedly claimed production in his unit went down by 50 per cent in the last three months owing to low gas pressure.
