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Bangladesh spinning mills facing headwinds as Indian yarn floods market

Bangladesh’s textile industries, especially the spinning mills are facing stiff competition in marketing their produce as cotton yarns from the neighbouring India are making inroads into the country.

According to industry sources, a large quantity of Indian yarns is being imported in the country in both formal and informal ways and being sold at low prices pushing the country's spinning mills in a state of downfall.

To save the local industries from the unhealthy competition of rising import of yarn from India, Bangladesh Textile Mills Association (BTMA) urged the Commissioner of Customs, Benapole to strengthen their surveillance to check surplus and unauthorised entry of Indian yarn into the country.

According to industry insiders, everyday a large quantity of Indian yarn of various counts is entering into the country under the disguise of a very nominal amount of sanctioned imports. Excess amount of yarns and yarns of higher counts are being imported into the country with false declaration, said the memo of the BTMA sent to the commissioner.

As per BTMA, most of the spinning mills have been incurring big losses due to unabated import of Indian yarns through Benapole land port and many of them are on the verge of closure as their produce has remained unsold. Many of the mills have also reduced their production.