CPD RMG Study Stitching a better future for Bangladesh
Every day, CPD RMG Study team reveals what’s on our economic and apparel radar and curates a selection of the best reports, opinion, and analysis you may have missed
Buyers sever ties with 12 more RMG factories
The western fashion brands and retailers have announced to cut business relations with 12 more readymade garment factories in Bangladesh, taking the total number to 248 as the factories failed to implement workplace safety measures suggested by the two separate platform of buyers, New Age reported.
The Accord suspended factories are : Ababil Knit Composite Ltd, Mantrust Sweater Ltd, Mantrust Designer Limited, Promod Knitwear Limited, Mantrust Accesories Limited and Mantrust Embroidery and Printing Limited under Mantrust group, Ali Apparels Ltd and Cotton Textile and Apparels Ltd, General Import-Export Ltd and IB Apparels Ltd of Cotton Tex Group, the report added.
Yarn price to fall as supply rises
Local merchants and spinners expect the yarn market to stabilise thanks to a price fall in the global market amid rising supplies, especially from China, and higher cotton production, the Daily Star reported.
Cotton, the main source for producing yarn, traded between 67.7 and 68 cents per pound in the international market yesterday, down from 71.8 to 72.8 cents a few days ago, the report added.
Imports rise 9pc as economy heats up
Bangladesh’s imports grew 9 percent year-on-year in fiscal 2016-17 as the demand for capital machinery, industrial raw materials and food grain at home soared, the Daily Star reported.
More than $47 billion worth of goods were brought in to the country last fiscal year, according to data from the Bangladesh Bank, the report added.
RMG workers stage demo for wage arrears in Gazipur
Several hundred workers of two ready-made garment factories staged demonstrations in Gazipur on Sunday demanding payment of their wage arrears for two months, Financial Express reported.
They also vandalized the windowpanes of the garment factories and blocked MC Bazar-Shishu Palli regional road in Sreepur of Gazipur, holding up traffic for an hour, the report added.
