Spinners will not reduce yarn prices

Spinners are hesitant to lower yarn costs in local markets, despite the fact that clothing and terry towel exporters have requested it in order to compete on a global scale.

"Today [Tuesday], I had an internal meeting with our members to discuss yarn costs and demand from garment makers and terry towel exporters," said Mohammad Ali Khokon, head of the Bangladesh Textile Mills Association (BTMA).

Garment exporters want an uninterrupted supply of yarn at competitive prices in order to cater to the increasing number of work orders from international retailers and brands. The most highly demanded 30 carded yarn was selling for about $4.25 per kilogramme in local markets as of yesterday, he added. Faruque Hassan, president of the Bangladesh Garment Manufacturers and Exporters Association, said he is yet to receive any invitation from the BTMA for the next meeting.