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
RMG shine to stay
Bangladesh will remain the apparel sourcing hotspot for international retailers and brands over the next five years because of competitive prices and China’s declining market share in garment business, says a global survey, the Daily Star reported.
McKinsey & Company, the world’s most prestigious management consultancy firm, prepared the biennial survey based on interviews of chief purchasing officers (CPOs) of top 63 global garment retailers and brands that buy apparel items worth $137 billion a year, the report added.
Spinners struggling for port congestion
Spinners are facing troubles as they cannot release cotton from Chittagong port in time due to congestion that was created from the breakdown of two of the four gantry cranes in June, the Daily Star reported.
Cotton is an essential raw material for the garment sector, the country’s main export earner, the report added.
Govt okays imports of 50,000 tonnes of rice
The cabinet committee on national purchase on Wednesday approved purchase of another 50,000 tonnes of parboiled rice from the international market to meet supply shortage and its price spiral in the local market, New Age reported.
The approval was given at a meeting of the committee presided over by finance minister AMA Muhith at the secretariat, the report added.
