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Textile sector in a tight spot with increased fabric prices
24
Jun '08
In a country like Vietnam, where textile and garment industry greatly depend on the imports, to meet their requirement of raw material, price hike for the same in the international market is a matter of grave concern.

The textile sector, which is one of the highest foreign currency earners for the country, is presently facing a difficulty while importing fabric for local production, as there has been a sharp rise in the US Dollar value against VND.

The mode of transaction for importing raw material that Vietnam uses is US Dollars, and now the country is in trouble due to its appreciation.

According to fabric trading companies in Ho Chi Minh City, in the current month, the fabric imports price has increased by 15 percent on average in comparison to May; the strongest hike is seen for fabrics imported from China, which is one of its biggest suppliers.

Elastic fabric (including cotton elastic fabric, crayon elastic fabric etc) stood at VND 38,000 – 70,000 per meter. Korean silk fabric was quoted at VND 120,000 – 150,000 per meter and khaki fabrics were purchased for VND 45,000 – 55,000 per meter.

Fibre2fashion News Desk - Vietnam

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