The Bangladesh Textile Mills Association (BTMA) has urged knitwear manufacturers to buy locally-made yarn to reduce stockpiling of the material at textile mills in the country.
Mohammad Ali Khokon, president of the BTMA, made this request through a letter to Mohammad Hatem, executive president of the Bangladesh Knitwear Manufacturers and Exporters Association.
In the letter sent last week, the BTMA also said a lot of imported yarn and fabrics are sold at major shops across the country, including Dhaka, Narayanganj, Narsingdi, and Sirajganj.
However, local spinners have a lot of unsold yarn that is ready to be sold to knitters and weavers at the market rate, it added.
Earlier, when the demand for yarn soared in line with the demand for garment items amid the global supply chain’s recovery from Covid-19, local spinners sat with garment manufacturers to set yarn prices in consultation with millers and garment exporters.
This time too, knitwear exporters also need to sit with the spinners to fix the price and ultimately be encouraged to buy locally spun yarn at competitive prices from domestic markets, the letter said.
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