“The Bangladesh Garment Manufactures and Exporters
Association (BGMEA) and the Bangladesh Knitwear Manufactures and
Exporters Association (BKMEA) urged the government In a joint statement,
to intervene in the unstable cotton market”.Reports say
Bangladesh’s leading trade associations also appealed to spinners not to
hike prices to avoid a negative impact on the country’s apparel sector
which earned US$15.56 billion last year ..According to local
newspaper reports the joint statement demanded that spinners set
‘rational and affordable prices’ for cotton in the interests of the
industry, which supports an estimated 3 million, mainly female workers,
in the cotton knit goods industries ..The joint statement was said
to have been prepared by the BKMEA’s Dhaka office in presence of BGMEA
leaders. The two bodies are seeking government intervention to rein in
the prices of cotton with immediate effect. The associations say members
took orders for manufacturing cotton clothing at US$ 3.50 per pound in
the July-August period, but present prices have reached US$ 4.40, up
from US$3.70 a week ago .