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Soaring yarn prices create hurdle for RMG exports
17
Mar '08
A ceaseless hike in yarn prices is posing a grave danger for the apparel export growth of Bangladesh.

Putting up a tough competition against China, Pakistan and India, Bangladesh stands first in terms of growth in garment export.

However, officials from Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) believe that if yarn prices in the domestic market continue to grow, the country might loose its international competitiveness.

Producers on the other hand, lament helplessly since rise in yarn prices have increased the cost of cotton which is the essential raw material in the production of apparels.

They point out that cotton prices have risen to US $87 cents per pound from $78 cents in December and $60 cents a pound in September last year.

The 30 count variety of yarn is currently selling at a price ranging from $2.90-3.0 per kg compared with its rates at $2.75-$2.80 per kg last December.

Moreover the 20 and 40 count variety of yarn have also showed a similar trend increasing to $2.35-2.40 and $3.85-$3.90 per kg compared to its previous rates.

Although local producers can meet 80 percent of the demand, when it comes to woven yarn, they can only supply about 35 percent of the total consumption demand.

Presently in India, the 30 count variety of yarn is selling at $2.10 per pound. Experts opine that the country has the advantage of having a huge potential to produce substantial cotton and also that it has its own technology and machinery.

Industrial sources confirm that the core reason behind soaring yarn prices is the monopolization of the market by a few unscrupulous traders.

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