After more than one and half years, the local apparel exporters have been experiencing a soaring inflow of work orders from the international clothing retailers and brands of the western world as they have opened up their retail outlets.
Local RMG suppliers receiving a handful of work orders with the opening up of the western economy.
Leaders of BTMA have been saying that the prices of yarn have gone up in the domestic markets mainly for two reasons including higher cotton prices and for higher freight charges.
In the international futures markets, cotton was traded between 91.40 cents per pound and 91.41 cents per pound Monday and the rates were between 79 cents per pound and 82 cents per pound in May this year.
The cost of production has increased by 30.10 percent over the last eight years, although the prices of clothing items declined by 3.7 percent last year mainly because of fallouts of COVID-19.
But now they are expecting to make a profit as the international retailers and brands have been placing a handful of work orders. However, higher yarn price is becoming a major concern for them, BGMEA said…
Read the rest of this exclusive story in the upcoming Textile Today August magazine.