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BTMA has requested makers to not raise yarn prices

Aug 16, 2021
BTMA has requested makers to not raise yarn prices

Bangladesh Textile Mills Association (BTMA) has advised its export-oriented yarn makers not to increase the prices of yarn any further. It has also been suggested that the PI should be held valid for 15 days instead of 7 days.

These suggestions have come after the apparel exporters and textile millers liberated their stances related to the dispute over the prices of yarn. They agreed that the prices of yarn will not be increased further. It is also said that a committee will be formed wherein the representatives from ready-made garment sectors, terry towel and linen sectors, and textile sectors will fix an upper limit for the price of the yarn.

According to the industry insiders, this emergency meeting took place after the BKMEA, BGMEA, and BTTLMEA leaders showed their concern over the rising trend of the prices of yarn in the local market.

According to Mohammad Ali Khokon, President, BTMA, the body has initiated this move to resolve the growing issues related to the prices of yarn after different groups expressed their concerns and created confusion. This is done for the greater interest of the industry, he said.

According to Shahadat Hossain Sohel, Chairman, BBTLMEA, they are going to form a committee in the next few days which will have representatives from the clothing and textile sector. They will together try to fix the prices in line with the rate of New York and other costs. 

Source – The Financial Express

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