Home / Knowledge / News / Textiles / Strengthening US dollar hits Nepali carpet exports
Strengthening US dollar hits Nepali carpet exports
12
Feb '13
Carpet exports from Nepal are likely to decrease further in 2013, as importers are cutting down their orders, as the prices of Nepali carpets are rising in world market due to strengthening of the US dollar vis-à-vis Nepali currency, in addition to rise in cost of production.
 
Stirred by rising prices of raw materials, Nepali carpets now cost around US$ 115 per sq ft as against last year’s US$ 93 per sq ft. 
 
In spite of their excellent quality and designs, rising prices of carpets due to rise in cost of production and strengthening of the US dollar, is impacting demand for Nepali carpets in world markets, President of the Nepal Carpet Exporters Association (NCEA) Anup Malla told Republica.
 
Mr. Malla said Nepali carpets now cost around 40 percent more than those made in India, its leading competitor. Thus, price alert global buyers are now shifting to low-cost destinations like China, India and some other countries that are able to export carpets to the EU and the US at lower rates. 
 
At the DEMOTEX international expo of floor coverings held last month in Germany, importers from the US and the EU said they may also cut orders as long power cut schedules and lack of skilled workforce that the Nepali exporters are enduring has raised uncertainty over their ability to timely execute the orders, Mr. Malla, who had attended the fair, said.
 
Nepali carpet factories are experiencing severe crisis of skilled workers due to flight of several workers to foreign countries in search of better opportunities.
 
Marking a year-on-year fall of 20 percent, Nepali carpet exports plummeted to Np Rs. 2.58 billion during first six months of the current fiscal. 
 
Volume-wise too, carpet exports plummeted to 250,616 sq ft  during first half of current fiscal from 383,281 sq ft of exports made during corresponding period of last fiscal.

Fibre2fashion News Desk - India

Must ReadView All

Apparel/Garments | On 28th May 2017

Over 45% US retailers to use AI in next 3 years: Report

Over 45 per cent retailers in the US plan to utilise artificial...

Neelesh Hundekari speaking at the event. Courtesy: Subir Ghosh

Textiles | On 27th May 2017

Fabric of Change initiative announces €250000 scaling fund

The Fabric of Change initiative of Ashoka and the C&A Foundation is...

Apparel/Garments | On 28th May 2017

Naked Brand, Bendon sign agreement to reorganise

Naked Brand Group, a fashion and lifestyle brand, and Bendon Limited, ...

Interviews View All

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search