Cotton price up in Narayanganj

The price of cotton yarn at Tan Bazar, country's biggest cotton trading centre, is showing an upward trend due to growing demands by the handloom and power loom weavers and knit garment entrepreneurs on the eve of Eid-ul- Fitr and Durga Puja.
According to Bangladesh Yarn Merchants Association (BYMA), the government has imposed restrictions on import Indian cotton yarn through Benapole land port, which pushed the price of yarn in the local market a little high.
BYMA President M Solaiman told the news agency that the price of cotton yarn has started rising from the month of June last.
He said the average price of recent counts of cotton yarn has shot up by Taka 5 to 8 per pound according to quality.
He said production in 341 spinning mills under Bangladesh Textiles Mills Association has declined by 30 percent leading to higher price of yarn.
He demanded that the government provide cash incentive to the spinners for the production of indigenous cotton yarn to overcome the loss caused by power failure and shortage of gas supply.