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On back of recovery hopes of raising prices crashes
05
Jan '10
The recovery witnessed in the order positions of many clothing exporters had also brought hopes of a firming up of per unit prices. But these hopes have been crushed, since overseas buyers are still insisting on discounts on the already low prices.

After witnessing months of fall in export growth rates, which began from late last year, value of apparel shipments made in November have posted a positive growth rate of 8 percent to two of the biggest markets; US and EU.

These demands for even lower prices is compelling exporters to refuse the orders at the cost of these orders being diverted to more cost competitive countries like Bangladesh and Vietnam, who offer 15-20 percent lower rates.

According to experts, manufacturers in Bangladesh and Vietnam are able to quote 15-20 lower prices compared to their Indian counterparts, mainly due to the difference in wages paid to workers, leading to reduced operating costs.

Fibre2fashion News Desk - India

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