Yarn prices drop again in Narayanganj

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

Yarn prices of almost all varieties have come down by Tk 7-12 per pound during the last two weeks, said local sources.

Traders say that the market is under downward pressure due to the decrease in the price of yarn raw materials in the international market. Besides, the decrease in foreign purchase orders in the country’s garment sector has also affected the market price. In a span of two weeks, the price of all types of yarn has dropped by Tk 7-12 per pound.

10-count yarn is being sold at Tk 45-76. Yarn of the same count was sold two weeks ago at Tk 50-90. Accordingly, the price has decreased by Tk 5-10.

20-count yarn is being sold at the rate of Tk 80-90. Yarn of the same count was sold a week ago at Tk 85-100. Accordingly, the price has decreased by Tk 5-10.

Export quality yarn of 24, 26, 28, and 30 counts is being sold at Tk 137-140. The yarn of these counts was sold in the market 10-12 days ago at the rate of Tk 142-150. Accordingly, the price has decreased by Tk 5-7.

40-count yarn is being sold in the market at the rate of Tk 170-173 according to type (bine). Yarn of the same count was sold two weeks ago at Tk 180-185. Accordingly, the price has decreased by Tk 10-12. 40-count yarn is being sold at Tk 190-200. Yarn of the same count was sold a week ago at Tk 195-205. Accordingly, the price has decreased by Tk 10.

50-count yarn is being sold at Tk 210-220. Two weeks ago, yarn of the same count was sold at Tk 218-228. Accordingly, the price has decreased by Tk10.

60-count yarn is being sold at Tk 195-225 per pound. The price of yarn of the same count was Tk 210-240. Accordingly, the price has decreased by Tk20.

80-count yarn is being sold at Tk 335-340. Yarn of the same count was sold two weeks ago at Tk 350-365. The price has come down by Tk 20-25 per pound.

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.

Rezaul Karim, 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.

Liton Saha, president of the Bangladesh Yarn Merchant Association, said the price of yarn has decreased by Tk 7-12 in the last two weeks.

Spinning mills are selling at reduced prices in the domestic market due to a reduction in the price of raw materials for making yarn in the international market. Besides, the weavers have reduced the production of cloth due to the fear of global economic recession. So the sale of yarn has reduced a lot, he also said.