Bangladesh Textile Mills Association President Mohammad Ali Khokon (BTMA) claimed, “While the demand for yarn and fabrics in Bangladesh is increasing, prices do not meet satisfactorily”. Some factories operate at a capacity of 70%, while others work at 65% and less than 60%, as yarn and textiles demand has increased.
Though international cotton prices have decreased, local spinners have failed as cotton has been imported at 75 cents to 80 cents per livre prior to the pandemic, said Mansoor Ahmed, director, BTMA. Sales of yarn and fabrics in Bangladesh, which are export-oriented, are on the increase thanks to increased international workflows This led to a rapid recovery in the country’s primary textile industry, incurred in losses of over 20,000 Tk, while prices remain below expected.
The Vice-Chairman of the BGMEA, Faisal Samad, also said that job order inflow is better than in the last three months. Many customers have reissued previously cancelled work orders, and they’ve opened up new ones as distributors in the EU and the US. The new work orders will be delivered beginning in November.