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High input costs worry Vietnamese textiles & apparel firms
21
Jul '11
A two-to-three fold increase in input costs has become a cause of concern for Vietnamese textiles and apparel companies.

Besides the rise in the price of raw material, the increase in minimum wage rate has also contributed to the increase in input costs for these companies.

Export prices have also surged by 10-15 percent over last year's prices, but these are inadequate to cover the rise in input prices. This has resulted in a decrease in the profit margins of the companies exporting textiles and apparels.

Hence, in spite of having many contracts in hand, entrepreneurs are now worried whether they will be able to achieve enough profits in the next six months to meet their yearly export targets.

These companies now wait for the Government to come out with new policies to boost the country's textiles and apparel sector.

Fibre2fashion News Desk - India

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