Abdul Hai Sarker, president of Bangladesh Textile Mills Association, speaks at a press conference at BTMA office in Dhaka yesterday. Photo: STAR

Textile millers yesterday suggested the government open up Benapole port to weavers to import yarn from India to tame soaring prices on the local market.
President of Bangladesh Textile Mills Association (BTMA) Abdul Hai Sarker asked the government to allow weavers to import yarn under 'bond licence', so that importers cannot misdeclare the imported quantity.
The knitters import yarn through Benapole port to manufacture 100 percent export-oriented items under bond licence.
Sometimes unscrupulous traders import a truck of yarn, but practically bring in at least three trucks into Bangladesh from India due to a slack enforcement of law, the BTMA chief alleged in a press conference at his office.
He suggested the government provide a temporary incentive to local weavers to help them weather out the troubled period.
Sarker said different quarters blamed spinners for a yarn price hike on the local market, although the spinners do not control the market.
"The fact is, the prices of yarn increased after the energy crisis led to a production shortfall in the industrial sector. Moreover, the prices of raw cotton have increased by 60 percent over the last few months on the international market," he said.
Yarn prices started declining on the local market as demand for the item slumped with the onset of the lean period in garment manufacturing, he said.
The lean period in garment production starts in June and continues through September.
The prices of widely consumed 30-count yarn are hovering around $4 per kg from its previous rates at $4.35-$4.40 per kg, industry insiders said.
By one estimate, 50 lakh workers are directly employed in the weaving sector. More than 1.25 crore people are directly and indirectly dependent on the weaving industry.