Bangladesh’s leading apparel industry lobbyists spoke out about their concerns over cotton prices in local and international markets here on Wednesday, saying rocketing prices will damage the country’s largest export earner.

The Bangladesh Garment Manufactures and Exporters Association (BGMEA) and the Bangladesh Knitwear Manufactures and Exporters Association (BKMEA) urged the government In a joint statement, to intervene in the unstable cotton market.

Reports say Bangladesh’s leading trade associations also appealed to spinners not to hike prices to avoid a negative impact on the country’s apparel sector which earned US$15.56 billion last year.

According to local newspaper reports the joint statement demanded that spinners set ‘rational and affordable prices’ for cotton in the interests of the industry, which supports an estimated 3 million, mainly female workers, in the cotton knit goods industries.

The joint statement was said to have been prepared by the BKMEA’s Dhaka office in presence of BGMEA leaders. The two bodies are seeking government intervention to rein in the prices of cotton with immediate effect. The associations say members took orders for manufacturing cotton clothing at US$ 3.50 per pound in the July-August period, but present prices have reached US$ 4.40, up from US$3.70 a week ago.