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Yarn prices slack as demand for knitwear dampens
16
Jun '08
There has been a perceivable decline in yarn prices in the local markets over the last 15 days. Lean market, slow down of US economy and soaring crude oil prices have been marked as some of the major reasons behind this down trend.

The 30-count yarn which is widely used as a raw material for knitwear products is presently selling between US $2.75 and $2.80 a kilogram compared to $2.95-$3.0 per kilogram just two weeks back.

Experts strongly believe that prices have dropped also because of a good stock of both cotton and yarn brought by the traders. Cotton prices remained stable at 78-80 cents per pound in the international market for the last few months. This propelled Bangladesh to import 4.6 million bales of cotton from Uzbekistan and other CIS countries to meet domestic industrial demand.

Market analysts have observed that the prices of yarn started soaring since September last year when it touched $2.5 per kilogram. The index touched $2.75 per kilogram in December and $3.0 per kilogram in March, remaining pretty much the same till May.

The recent fall in prices, have mainly been attributed to plummeting demand for knitwear products in the international market, resulting in a dull season. However, experts believe that the present situation is a temporary one.

Sweaters along with T-shirts and Polo shirtsaccount for 70 percent of the total knitwear production.

To tide over this situation, a suggestion has been made to increase production of sweater because while the demand for T-shirts and Polo shirts have declined, that for sweaters have risen tremendously.


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