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Government to set yarn price next week
02
Oct '10
Bangladesh government will set the yarn price within the next week to curb the unusual rise in its price. This was disclosed by Faruk Khan – the Commerce Minister after a meeting with the representatives of the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA).

The rise in yarn prices in the domestic market led the knitwear manufacturers to meet the Commerce Minister.

The minister revealed that the yarn prices have registered a hike in Bangladesh owing to the increase in global yarn prices. The government will try to arrive at a consensus with the stakeholders within a short period to resolve the issue.

He has urged the spinners to stick to the price of $4 per kilogram till the decision is arrived at.

The government will soon initiate dialogues with its Indian counterpart so that it takes necessary action to remove the restriction on its cotton exports.

The minister has already approached the concerned authority from both Bangladesh and India to reduce the hassles in the import of yarn via Benapole Land Port.

According to him, discussions on important issues, such as import of cotton as well as yarn, will be held with the Indian officials during his visit to the neighboring country very soon.

Fibre2fashion News Desk-India


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