Bangladesh Garment Manufacturers And Exporters Asked The Government To Intervene In Cotton Prices.
The People's Republic of Bangladesh
Garment manufacturers and Exporters Association (BGMEA) and Bangladesh knitwear manufacturing and
exporters association
(BKMEA) recently indicated that they paid close attention to the rising cotton prices both domestically and globally, claiming that this would be the main domestic market.
Exit
The foreign exchange earning industry has a negative impact.
The two lobbies issued a joint statement asking the government to intervene in cotton.
market
Fluctuations.
In addition, lobbyists urged the spinning mills not to raise prices, which would hurt the clothing industry, and the garment industry earned $15 billion 560 million in revenue last year.
These industry groups insist that the spinning mills should set the price of cotton yarn at a reasonable price, and the spinning industry has the advantage.
The spinning industry creates a large number of employment opportunities, about 3 million of the employees, mainly women.
Cotton knitwear manufacturer is the largest cotton yarn consumption industry.
Industry leaders claim that from July -8, when they signed the contract for clothing, the price of cotton yarn was 3.50 dollars / pound. Now the price has climbed to 4.40 dollars / pound, but only a week ago, the price was still 3.70 dollars / pound.
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