Spinners are unwilling to reduce the prices of yarn in local markets even though apparel and terry towel exporters have demanded as much in order to remain competitive at the international level.
“I held an internal meeting with our members today [Tuesday] to discuss the prices of yarn and demand from garment makers and terry towel exporters,” said Mohammad Ali Khokon, president of the Bangladesh Textile Mills Association (BTMA).
“I even had to face a barrage of questions in the meeting regarding why I asked them to maintain the prices of yarn in local markets last week,” he added.
Garment exporters want spinners to provide 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 number of work orders are rising in line with the reopening of economies in the western world.