Yarn prices decrease in Narayanganj market

Yarn prices have started declining in Narayanganj’s Tanbazar, the country’s largest wholesale yarn market.

Yarn prices of almost all varieties have come down by Tk 8-10 per pound during the last week, said local sources.

Traders said the yarn prices have slightly decreased as a result of the declining price of cotton, the raw material for making yarn, in the international market in recent times.

Besides, the sales of yarn have also decreased recently, because the demand is low at present in the garment industry due to a decrease in orders from foreign buyers, said the traders.

This week 10-count yarn is selling for Tk 45-91 per pound depending on the variety, which was Tk 50-105 a week ago. Accordingly, the price has decreased by about Tk 5-14 per pound. Moreover, 20-count yarn is selling for Tk 91-102 per pound depending on the variety, which was Tk 92-105 last week.

The price of export quality 24, 26 and the 30-count yarn is Tk 158-171 per pound, which was Tk 166-175 a week ago. Accordingly, the price has decreased by Tk 8 per pound.

Depending on the variety, 40-count yarn is selling for Tk 170-185 per pound, which was Tk 180-195 last week, and the 50-count yarn is selling for Tk 182-215 per pound, coming down from last week’s Tk 190-225 per pound.

At present, the price of 60-count yarn is Tk 200-235 per pound, which was Tk 210-245 10-15 days ago. The price of 80-count yarn has decreased by Tk 15 per pound in a week as the product is currently selling for Tk 345-360 per pound, which was Tk 360-365 last week.

Liton Saha, president of Narayanganj Yarn Merchant Association, said that the price of all types of yarn has decreased by Tk 8-10 per pound during the last 8-10 days. Industry insiders said spinning mills reduced the yarn prices slightly as the price of cotton in the international market is on the decline. In addition to the decrease in prices, the sales of yarn have also declined in the market due to decreased purchase orders from foreign buyers in the garment sector of Bangladesh.

However, before this decline in yarn prices in the last week, its prices had increased more than three-four times in the last few months, forcing many weavers to leave the business for good which left a negative impact on the yarn market.

Delwar Hossain, the manager of Bismillah Traders in Tanbazar, said, “The ongoing recession in the global economy and increasing dollar prices in the domestic market have made the raw materials market volatile. This has also affected the yarn market.”

Abdul Latif, a yarn trader, said that the price of yarn had increased alarmingly in recent months, but the price of cloth, or production cost or even readymade garments has not increased.

“The government should increase market monitoring to keep the prices stable,” he said.