In a meeting with leading industry associations, Bangladesh Textile Mills Association (BTMA) advised export-oriented yarn makers not to increase yarn prices further. The association revealed plans to form a committee or arbitration cell shortly, comprising representatives from the textile, terry towel and linen and ready-made garment sectors to fix the upper ceiling price of yarn for the local market.

As per a Financial Express report, the virtual meeting was attended by Faruque Hassan, President, Bangladesh Garment Manufacturers and Exporters Association (BGMEA); AKM Salim Osman, President, Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA); Shahdat Hossain Sohel, Chairman, Bangladesh Terry Towel and Linen Manufacturers and Exporters Association (BTTLMEA; Mohammad Ali Khokon, President, BTMA and Tapan Chowdhury, Former President, BTMA

The emergency meeting was convened after the BGMEA, BKMEA and BTTLMEA leaders expressed their concern over the rising trend of yarn prices in the local market for last couple of months.