Yarn prices slide on supply glut | The Daily Star
Skip to main content
T
Friday, September 29, 2023
The Daily Star
E-paper Today's News বাংলা
  • Home
  • News
    • Bangladesh
      • Investigative Stories
    • Investigative Stories
    • Asia
    • World
  • Opinion
  • Health
  • Sports
  • Business
  • Entertainment
  • Culture
  • Life & Living
  • Youth
  • Tech & Startup
  • Multimedia
  • Feature
    • Lifestyle
    • Rising Star
    • Showbiz
    • My Dhaka
    • Satireday
    • Campus
    • Toggle
    • Star Literature
    • In Focus
    • Star Youth
    • Shift
    • Daily Star Books
    • Roundtables
    • Star Holiday
    • weekend read
  • More
    • Environment
    • NRB
    • Supplements
    • Law & Our Rights
  • E-paper
  • বাংলা
Search Epaper T
  • Today's News
  • Home
  • News
    • Bangladesh
    • Investigative Stories
    • Asia
    • World
  • Opinion
  • Health
  • Sports
  • Business
  • Entertainment
  • Culture
  • Life & Living
  • Youth
  • Tech & Startup
  • Multimedia
  • Feature
    • Lifestyle
    • Rising Star
    • Showbiz
    • My Dhaka
    • Satireday
    • Campus
    • Toggle
    • Star Literature
    • In Focus
    • Star Youth
    • Shift
    • Daily Star Books
    • Roundtables
    • Star Holiday
    • weekend read
  • More
    • Environment
    • NRB
    • Supplements
    • Law & Our Rights

  • About Us
  • Contact Us
  • Apps
  • Comment Policy
  • RSS
  • Sitemap
  • Advertisement
  • Newsletter
  • Privacy Policy
  • Conference Hall
  • Archives
Business
Refayet Ullah Mirdha
Wed Dec 12, 2018 12:00 AM
Last update on: Wed Dec 12, 2018 12:12 AM

Most Viewed

  • Tamim dropped after drama

  • ‘BB governor worse performer than 70 countries’ central bank chiefs’

  • $27b health budget in the works

  • 47% year on year rise in Bangladeshi companies joining Dubai Chamber

Business

Yarn prices slide on supply glut

Refayet Ullah Mirdha
Wed Dec 12, 2018 12:00 AM Last update on: Wed Dec 12, 2018 12:12 AM

The fall in yarn prices by at least 12 percent in the last two months has made Bangladesh's 430 local millers uneasy, industry insiders said.

Between June and July, the widely consumed 30 carded yarn sold between $3.40 and $3.50 a kilogram. But from November onwards the prices of the same yarn dropped to $3.05 a kg.

For all latest news, follow The Daily Star's Google News channel.

If the trend continues, the stock of yarn, which is the main raw material for finished apparel items, may pile up, putting the $8 billion primary textile industry under threat.

Easy availability of cheap Indian yarn and lower prices of raw cotton worldwide due to the US-China tariff war are to blame for the sliding yarn prices.

“The prices of yarn are falling everyday because of oversupply,” said Monsoor Ahmed, secretary of Bangladesh Textile Mills Association, the platform for the spinners and weavers.

The oversupply of Indian yarn has been worsening the situation, he said, adding that there is a possibility of yarn's inventory piling up.

The Indian spinners can sell yarn at a cheaper rate because they have their own raw cotton, said Razeeb Haider, managing director of Outpace Spinning Mills Ltd, a yarn supplier.

“A lot of the Bangladeshi knitwear manufacturers are importing the cheaper Indian yarn,” he added.

The supply of yarn from both the domestic and Indian market is very high at present, so the prices have decreased between 10 cents and 15 cents per kg, said Bakhtiar Uddin Ahmed, general manager at Fakir Apparels, a Narayanganj-based garment maker.

The price difference between Indian and Bangladeshi yarn is 10 to 15 cents per kg, said Ahmed, who procures up to 40 percent of the yarn required by his factory from the neighbouring country.

The yarn prices have dropped because of the fall in cotton price worldwide, said Momin Mondol, managing director of Mondol Group.

The total demand for yarn is more than 21 lakh tonnes per year.

Of the demand 70 percent is met by local millers and the rest is imported, mainly from India, China, Vietnam and Pakistan.

Bangladesh's 430 spinners can supply nearly 90 percent of the demand for yarn from the knitwear sector and 35 percent from the woven sector.

As a result, Bangladeshi woven garment manufacturers import fabrics worth more than $6 billion from countries like China, India, Vietnam and Pakistan.

Apple Google
Click to comment

Comments

Comments Policy
|রাজনীতি

খালেদা জিয়ার বিদেশে যাওয়ার অনুমতির আবেদন বিষয়ে মতামত শিগগির: আইনমন্ত্রী

মঙ্গলবার স্বরাষ্ট্র মন্ত্রণালয় আবেদনটি আইন মন্ত্রণালয়ে পাঠিয়েছে

২ ঘণ্টা আগে
|রাজনীতি

বিএনপি অংশ না নিলেও নির্বাচন থেমে থাকবে না: সালমান এফ রহমান

১ ঘণ্টা আগে
Please Click on allow
The Daily Star
Journalism without fear or favour
  • About Us
  • Contact Us
  • Apps
  • Comment Policy
  • RSS
  • Sitemap
  • Advertisement
  • Newsletter
  • Privacy Policy
  • Conference Hall
  • Archives
© 2023 thedailystar.net | Powered by: RSI LAB
Copyright: Any unauthorized use or reproduction of The Daily Star content for commercial purposes is strictly prohibited and constitutes copyright infringement liable to legal action.
X