Can’t reduce yarn prices further: BTMA president

Spinners have kept yarn prices unchanged since August 10 and there is no scope to reduce its prices further due to high international prices of cotton, said Mohammad Ali Khokon, president of Bangladesh Textile Mills Association (BTMA).

Since December last year, international cotton prices increased by 47 per cent, the demand for cotton yarn by 22 per cent and cotton yarn prices by 37 per cent, he said.

All these happened because of the long stays of the end consumers at home, he said at a press meet at Sonargaon Hotel in Dhaka today.

Since August 10, spinners have been selling the widely consumed 30-carded yarn at prices in between $4.20 and $4.30 a kilogramme, Khokon also said.

The BTMA has sent letters to the spinners and requested them not to increase the yarn price anymore, he said.

Usually, the demand for manmade fibre is higher than the cotton fibre in the international markets.

But, this time the demand for cotton fibre increased as the end users prefer using cotton made knitted items while staying at home for a long time, he said.

For instance, people wear knitted items like t-shirt and home textile more than the woven items.

The demand for woven items is not increasing that much as there is rarely any formal event since the Covid-19 outbreak, he said.