The demand for fabric in the local market has increased significantly this year, the sector people opined while taking to Textile Today.
A four-day long 15th Dhaka International Yarn & Fabric Show-2019 (Winter Edition) was held from January 23 to January 26 at the International Convention City (ICCB) in the capital organized by CEMS Global and the Sub-Council of Textile Industry (CCPIT TEX), China. In the show, the number of stalls had increased by 30 to 40% compared to last year.
“This year, the demand of fabric is greater than the previous year’s. Besides, the stalls of different companies from several countries, especially China, India, Brazil, Hong Kong, and Thailand, displayed different types of fabric to draw the attention of the delegates of local companies,” said Majharul Islam, Manager of sales and marketing department of CEMS Bangladesh.
“The total demand for textiles for the local market and export is more than 12 billion meters. Of them, only 3 billion meters are manufactured in the local market. They came from abroad in different ways,” said BTMA Secretary Monsoor Ahmed.
Monsoor Ahmed said 40 percent of the yarn was exported from the total yarn manufactured and 30– 40 percent of fabric was exported from the total fabric manufactured in the country.
According to Export Promotion Bureau (EPB) data, around 377,790 tonnes of cotton yarn was imported, while 551,388 tonnes of fabric was imported in 2018.
To give an idea of the growth of the country’s textile market, Monsoor Ahmed said there were only 341,000 spindles in 1983, but the figure rose to 13,400,000 in 2018.
“We have enough stock of textile products,” he said, adding that the illegal import of different textile products was a threat for the country’s textile sector.
Currently, local manufacturers are capable of supplying 85% of yarn and fabric, along with 40% of woven fabric, required by the knitwear sector, said Md Mohammad Ali Khokon, President, BTMA.
To meet the growing demand for fabrics and yarn, Bangladeshi investors made an investment of nearly Tk 70 billion in the primary textile sector, the backward linkage industry for the readymade garments (RMG) sector, in the last five years.
According to the Bangladesh Textile Mills’ Association (BTMA) data, local entrepreneurs invested, on average, Tk 1.4 billion per year from 2014 to 2018 in the primary textile sector to meet the demand of fabrics and yarn. During this period, 44 new textile mills also became members of the association.