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Recession proves helpful for yarn manufacturers!
10
Dec '08
On the back of declining prices of cotton in the international market, yarn prices in Bangladesh slump. According to market analysts, sliding crude rates and global recession are responsible for this plunge in prices.

Before three months, cotton could be purchased at 85 cents per pound in the international market, and now is traded at 62-65 cents per pound. In the local market, the 30-count variety of yarn that was sold at US $3 per kg, can currently be procured at $2.60 per kg.

For manufacturing cotton yarn, each year, Bangladesh imports around 4 million bales of cotton worth over $1 billion, according to available statistics.

The country imports 60 percent of cotton from Uzbekistan and the rest from other countries. Since harvesting is going on in Uzbekistan, now the manufacturing companies are procuring from alternative markets such as India, Pakistan, Australia, USA and some African countries.

In the past few years new spinning mills and knitwear factories have come up in the region leading to sharp rise in consumption of yarns. Thus market experts opine that the current situation will help manufacturers to increase their production, resulting in increased exports.

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