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Consumers feel brunt of raw material price hikes
Nov '10
Cotton price are hitting historic highs with each passing day, mainly as supply is tight and at the same time quality is not ensured and on the other hand, fabric prices are not able to increase in synchronization, squeezing the profit margins of small weaving factories, due to which, textile enterprises have to seek other ways.

Many enterprises have began to adjust product mix by reducing amount of cotton in production process, a few small and medium textile enterprises have shut shop while some enterprises are financing each other to stabilize cotton sources.

Prices of chemical fiber and other related products are also following in the footsteps of cotton prices, which have affected the consumer market, too. As cotton price rises, textile production has shifted to more chemical fiber and other alternatives, triggering a chain reaction, which has resulted in hike in prices of chemical fibres also.

As of mid-October, prices of chemical fiber products led by polyester staple fiber increased from 9,600 Yuan per ton to 13,000 Yuan per ton, an increase of over 30 percent.

Industry experts opine that, previously, prices of chemical products were mostly influenced by oil price fluctuations in the past, but now prices of chemical fiber are following the trends set by cotton prices.

The rice hike in raw materials has resulted in prices ascending at various stages of the textile value chain, and which has now reached the consumer as; clothing producers and retailers have augmented prices by 20-30 percent in the last few months.

Fibre2fashion News Desk - China

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