Yarn price fixed at $4.20 per kg

The spinners and garment manufacturers have fixed the price of 30-carded yarn at the highest $4.20 per kg for the local markets.

"We have reached a conclusion regarding the yarn price in the domestic markets in consultation with the spinners Saturday night," said Faruque Hassan, president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA).

The highest selling price of the most widely consumed 30-carded yarn has been fixed at $4.20 per kg up to the price escalation of cotton at $1 per pound in the international markets.

That means the spinners will sell the yarn at $4.20 per kg if the cotton price goes up to $1 per pound. The lower limit of cotton price has been fixed at 85 cents per pound to sell the yarn at $4.20 per kg.

Today, cotton was traded at 93 cents per pound in the international markets.