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Allow imports of yarn via Benapole - BTMA
12
May '10
Bangladesh Textile Mills Association (BTMA) President, Abdul Hai Sarker asked the government to open the Benapole port for weavers in order to import yarn, under 'bond license', from India to control the increasing yarn prices in domestic market and curb the importers from miss-declaring import volumes.

The knitwear manufacturers bring yarn through this port to produce goods exclusively meant for exports, under bond license.

During a press conference, BTMA Chief averred that, sometimes corrupt traders import more quantity of yarn from India than registered. In order to facilitate weavers to deal with the current troubled situation, the BTMA Chief suggested the government to offer temporary incentive to domestic weavers.

He further informed that, yarn prices soared up following energy crisis that caused a fall in production in the industry. Also, raw cotton prices witnessed 60 percent increase in the global market, during the past few months.

Drop in yarn demand started due to commencement of the lean period in garment production, which starts in the month of June and continues till September. This reduced the yarn prices in domestic market, added the BTMA Chief. Over 12.5 million people depend directly or indirectly on the weaving industry for their livelihood.

Fibre2Fashion News Desk - India

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