Cotton and yarn prices fall, Bangladesh’s garment exports expected to increase
According to a report by Bangladesh’s “Daily Star” on July 3, with the decline in cotton prices in the international market and the decline in yarn prices in Bangladesh’s local market, the competitiveness of Bangladesh’s garment exports It is expected to increase, and garment export orders are expected to increase.
The price of cotton per pound in the futures market on June 28 ranged from 92 cents to $1.09. Last month it was $1.31-$1.32.
The price of woolen yarn for daily use on July 2 was US$4.45-4.6 per kilogram. In February and March this year, the price was 5.25-5.3 US dollars.
When cotton and yarn prices rise, costs for garment processing plants rise, and orders from international retailers also slow down. There are predictions that the decline in cotton prices in the international market may not last. Local textile companies in Bangladesh mostly buy enough cotton to use until October this year when cotton prices are high, so the effect of falling cotton prices will not appear until the end of this year.
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