Over 79% foreign buyers of Bangladesh RMG yet to pay more: BGMEA
02 Feb 24 2 min read
Insights
- Despite promising to pay more for Bangladesh garments after a new wage structure was introduced, more than 79 per cent of foreign buyers are yet to start doing so, revealed a survey.
- A mere 3 per cent of such buyers have raised product prices up to 5 per cent.
- Factories' customs-and bond-related expenses have gone up by 47.85 per cent within the last year.
A mere 3 per cent of such buyers have raised product prices up to 5 per cent, the survey, covering 66 RMG manufacturers, shows.
The survey found 4.5 per cent of RMG buyers increased product prices by 1 per cent; 6 per cent of them increased by 2 per cent; 3 per cent of them increased by 3 per cent; and 4.5 per cent of buyers increased by 4 per cent.
Last year, 32.8 per cent of apparel manufacturers in the country said their customs- and bond-expenses increased by 26-50 per cent year on year.
On an average last year, RMG factories produced 27.5 per cent below capacity due to lack of orders, and factories received orders for the next four months equivalent to 62.21 per cent of their capacity.
The latest survey found RMG factories’ customs- and bond-related expenses have gone up by 47.85 per cent within the last year, according to domestic media reports.
Free-on-board shipping costs decreased by an average of 3.9 per cent.
Fibre2Fashion News Desk (DS)
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