Bangladesh Garment Manufacturers Asked The Government To Intervene In Cotton Prices.
The People's Republic of Bangladesh
The association of clothing manufacturers and exporters (BGMEA) and the Bangladesh knitwear manufacturers and Exporters Association (BKMEA) recently said they pay close attention to the rising cotton prices both at home and around the world, claiming that this will be the main domestic market.
Export earning industry
Adversely affecting.
The two lobbies issued a joint statement calling for government intervention.
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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