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Govt may fix minimum price of cotton waste

Refayet Ullah Mirdha
The government is likely to fix the minimum price of cotton waste, a by-product from spinning mills, to make it available for local manufacturers, dis-* couraging any export of the item.
Sources in the commerce ministry said such an initiative, taken in response to a letter from the trade body for the textile sector that asked for setting a minimum price, will appease the denim, home textile and terry towel manufacturers who have been facing an acute shortage of cotton waste on its exports.
Industry insiders said a section of unscrupulous trad-
ers export the item at USS 0.10 per kg whereas local manufacturers are to buy it at $ 1.25 a kg.
The Bangladesh Textile Mills Association (BTMA) in its proposal to the commerce ministry said the minimum export price of cotton waste should be set at SI.50-$ 1.60 per kg.
However, the Bangladesh Terry Towel and Linen Manufacturers and Exporters Association along with the BTMA have already had a number of parleys with the commerce adviser and other senior officials to resolve the issue.
Meanwhile, as per a resolution of a meeting with the industry’ owners held at the ministry on June 11, the Bangladesh Tariff Commission
(BTC) has been asked to submit its opinion on the minimum export price of cotton w’aste to the ministry soon.
Commerce ministry data shows the deficit of waste cotton used as a raw material in the open-end mills is 75 percent of its total demand.
It also shows cotton waste worth $10.99 million was exported during the July-March period of the current 2007-08 fiscal year (FY) against $7.42 million exports in FY 2006-07.
When asked, M Anisuzzaman chairman of the terry towel makers association, said definitely the country will be greatly benefited if the government either fix a minimum
export price of the item or ban its exports.
Cotton waste consists 90 percent of the total raw materials for manufacturing terry towel, Anisuzzaman said, adding that if it is turned into a high value added item like terry towel locally, it might be a major forex earner.
According to the Export Promotion Bureau (EPB), terry towel worth $93.79 million was exported during the July-April period in FY 2007-08 against $89.03 million in the corresponding period of the last fiscal. The government set a target of terry towel exports at $120 million for the current fiscal.
Reefat@thedailystar.net