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Yarn price hike: Concern for RMG sector
30
Jan '10
Prices of yarn, which increased by over 20 percent in the last 45 days have taken its toll on the apparel exporters.

The extensively used 30-count yarn is currently priced at $3.20-2.95 per kg which was sold at around $2.90-2.80 a kg earlier, said textile millers' data.

Industry entrepreneurs attributed this price hike to the colossal demand for yarn in domestic market and growing prices of raw cotton in the international market.

According to yarn manufacturers, mounting production costs led to increase in yarn prices as the yarn output slipped below capacity owing to uneven gas supply.

Apparel manufacturers and exporters cite this surge in yarn prices as a blow to their business when apparel goods are witnessing huge demand from foreign purchasers.

Also, raw cotton is witnessing hike in its prices, as it is sold at 78-85 cents per pound in the international market, informed Mr. Abdul Hai Sarker, President of Bangladesh Textile Mills Association.

He hopes that the gas supply will be smoother on the introduction of rationing system.

Moreover, for knitwear manufacturers also, yarn price hike was a matter of concern which put them under pressure at the time when global RMG demand is increasing, said Mr. Fazlul Hoque, President of Bangladesh Knitwear Manufacturers and Exporters Association.

Fibre2fashion News Desk - India

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