Home / Knowledge / News / Textiles / Industries affected by increasing cost of raw materials
Industries affected by increasing cost of raw materials
08
Jun '10
According to the Ministry of Industry and Trade, the costs of raw materials have witnessed a steep rise in 2010.

Owing to increasing global demands, cotton price has increased by 25 percent; cost of plastic has risen by 43.7 percent, fibre price has surged by 34 percent and cost of wood is up by 30 percent. However, the manufacturers said that, their cost has surged by merely 5-10 percent.

Around all this, the textile and apparel industry is adversely affected, as it has to compulsory import 80 percent of its raw materials.

Added, Nguyen Duc Khiem, CEO of Viet Thang Garment and Textile Company, viscose fibre cost has also risen to $2.7 per kilogram from last year's figure of $2.2. Also, cotton cost has increased to $1.6 per kilogram from $1.3 over the same period.

Adding to these woes is the acute dearth of raw material available locally. This is due to, delay in delivery of the raw materials from foreign countries and India's ban on cotton fibre since April, to safeguard its own textile and apparel industry.

Further more, Khiem informed that, local manufacturers are reducing their cost of manufacturing and are also sharing materials, so as to meet their work deadlines.

Government of Vietnam has now been called upon, by the domestic firms, to increase investment in the supporting firms.

http://english.vietnamnet.vn/biz/201006/High-raw-material-costs-hit-industries-914652/

Must ReadView All

Apparel/Garments | On 23rd Mar 2017

UK's National Living Wage to be £7.50 from April 2017

The National Living Wage in the UK for workers aged 25 and above is...

Textiles | On 23rd Mar 2017

Trutzschler launches Toyota-Truetzschler comber machine

Trutzschler, one of the world's leading textile machinery...

Jeff Bezos (L) and Amancio Ortega. Courtesy: Forbes

Apparel/Garments | On 23rd Mar 2017

Amazon founder Jeff Bezos is world's 3rd richest man

The biggest gainer and the third richest man on the Forbes' 31st...

Interviews View All

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Eamonn Tighe
Nature Works LLC

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

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

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:
March 2017

March 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search