Bangladesh, Nov. 3 -- The Bangladesh Textile Mills Association (BTMA) has set a price ceiling for locally produced yarn amid concerns among readymade garment (RMG) exporters that domestic millers may raise prices following the withdrawal of bonded-warehouse facilities for importing several categories of yarn.

Advertisement In its first such move, the association has fixed the price of 30-count single carded cotton yarn at $3.25 to $3.45 per kilogram, with separate ceilings for sight and deferred letters of credit (LCs).

BTMA officials, seeking anonymity, told The Financial Express that RMG exporters had expressed concerns over possible price hikes by local spinning mills following the withdrawal of the bonded warehouse facility.

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