Even as cotton prices continue to rise in the global markets — as per the Bangladesh Textile Mills Association or BTMA cotton prices are now ranging between US $ 1.05 per pound and US $ 1.07 per pound — textile mill owners have urged garment exporters to keep in mind the rising prices of cotton, while negotiating price of apparel products with the brands and buyers.
Media reports maintained this while adding that BTMA President Mohammad Ali Khokon, during a recent press meet stated that the garment makers need to be made aware of the upward trend of cotton prices in the international futures markets, even as he maintained, “…we need to meet again with the garment exporters as they are the main customers of the locally produced yarn.”
The BTMA President further added price of cotton in global markets had already crossed the US $ 1 per pound mark and apparel exporters should be made aware of this price escalation so that they can accordingly negotiate prices of garment items with the buyers.
It may be mentioned here that consequent to the rising prices of raw materials in the local market, a meeting was held between the BTMA, the BGMEA, the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) and Bangladesh Terry Towel and Linen Manufacturers and Exporters Association (BTTLMEA) in August where a consensus on the price was reached, as per which, it was decided that the widely consumed 30 carded yarn will be sold at US $ 4.20 per kilogramme if the cotton prices ranged between US $ 0.85 and US $ 1 per pound in international markets even as it was also, reportedly, decided in the meeting that if the price of cotton went over US $ 1 per pound, the spinners would be able to bargain a price hike of yarn with the buyers.
