22pc rise in yarn price to hit knitwear exports
Thursday, 14 February 2008
FE Report
Prices of locally-produced cotton yarn have increased by 20-22 per cent over the past one month in the local market as compared to the Indian market, posing threat to a projected robust growth of local knitwear exports, said Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) Wednesday.
The commonly used carded yarn (30/1) is now being sold at between $2.85 and $2.95 per kg in the local market, which is 40-45 cents higher than the prices in India. A month back it was sold at $2.45 per kg in the local market.
On the other hand, the combed variety yarn is now being sold at prices between $3.20 and $3.25 per kg in the local market.
Yarn is the main raw material for knitwear manufacturing that shares around 60 per cent of export value, while the local spinners supply 75-80 per cent of the demand. The knitwear sector alone earned $4.5 billion in 2006-07.
Prices of locally-produced cotton yarn have increased by 20-22 per cent over the past one month in the local market as compared to the Indian market, posing threat to a projected robust growth of local knitwear exports, said Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) Wednesday.
The commonly used carded yarn (30/1) is now being sold at between $2.85 and $2.95 per kg in the local market, which is 40-45 cents higher than the prices in India. A month back it was sold at $2.45 per kg in the local market.
On the other hand, the combed variety yarn is now being sold at prices between $3.20 and $3.25 per kg in the local market.
Yarn is the main raw material for knitwear manufacturing that shares around 60 per cent of export value, while the local spinners supply 75-80 per cent of the demand. The knitwear sector alone earned $4.5 billion in 2006-07.