The rise in prices of yarn in the last couple of months, which witnessed textile millers and garment exporters locking horns over the issue, has stabilised and is decreasing now subsequent to boost in supply as imports have increased.
Media reports maintained this while adding many in the industry still maintain that yarn prices — at the beginning of 2021, 30-count yarn, used in the manufacture of apparel products, sold at US $ 4.35-US $ 4.40 per kilogram, which have now come down to US $ 4.10-US $ 4.15 per kilogram even if in December last year, 30-count yarn sold for US $ 3 per kilogram, amidst hopes that prices would fall further as September to December is the cotton harvest season and cotton-producing countries have had good yields this time, as per industry insiders — are still higher than those of 2020.
Meanwhile, speaking to the media, Vice-President of the Bangladesh Textile Mills Association (BTMA), Md. Fazlul Hoque, reportedly, maintained that yarn prices have come down as the local supply of yarn has also increased in the market even if he expressed doubts how long this situation will sustain as the price of cotton in the international market is at its highest since 2011 after natural calamities in India have wreaked havoc on the global cotton supply, he said, before going on to add, “…we should take action now to prepare for the impact the rise in cotton prices could have on the domestic yarn market.”
It may be mentioned here that as per the BTMA, 80 per cent of the yarn to export-oriented knitwear factories is supplied by the local spinning mills.
