Home / Knowledge / News / Textiles / Hike in export tax rebate unlikely to impact VSF market
Hike in export tax rebate unlikely to impact VSF market
11
Jul '08
According to recent reports, export tax rebate on viscose fiber is likely to undergo major adjustments after which the rates may increase by 10 to 15 points.

Earlier it was informed that export tax rebate rate on textiles would increase by 2 percentage points while that for garment would increase by 4 percentage points.

In a way, it may benefit the viscose market by stimulating fibre prices which may in turn change the declining trend and bring about certain amount of profitability.

Previous data shows that since July last year when export tax rebates on viscose fiber were reduced to 5 percent, VSF exports of China have reduced substantially. Besides, RMB appreciation, rising prices of raw materials, slowdown in international economy and other factors have also played a major role in hampering VSF exports.

In the month of May this year, 6782.69 tons of VSF was exported by China registering a year-on-year decline of 24.23 percent. Export volume of viscose filament for the month amounted to 3613.4 tons, down by 24.15 percent or 1150.5 tons than the previous month and by 40.35 percent or 2444.77 tons over the corresponding period last year. In terms of value, exports amounted to US $16.6938 million, representing an annual decline of 23.13 percent.

Experts have voiced a common feeling that drop in viscose fiber is largely due to excessive supply of the raw material in the market. Therefore an increase of export tax rebate on viscose fiber is likely to have little or no impact on prices. They also believe that even with a support policy, it will be difficult to change this downtrend in a short period of time.

Fibre2fashion News Desk - China


Must ReadView All

Courtesy: EVG photos from Pexels

Apparel/Garments | On 16th Aug 2018

Bangladesh ups garment export target to $32.689 bn

The Government of Bangladesh has increased the country’s readymade...

Courtesy: PR Newswire

Apparel/Garments | On 16th Aug 2018

Shoppers go to stores for thrifting experiences: Survey

Despite growth in e-commerce, shoppers still head to retail stores...

Pak ministry invests in training textile sector workers

Textiles | On 16th Aug 2018

Pak ministry invests in training textile sector workers

Pakistan’s ministry of commerce and textile industry is offering...

Interviews View All

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Top executives
Textile industry

The foremost issue is bridging the skill gap

Md Hanifur Rahman
Aman Group

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

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Abhishek Pachauri

Reckon Industries is into manufacturing of textile process house machines, ...

Mr Hartmann Huth
Trevira GmbH

Trevira GmbH is an innovative European manufacturer of high-value branded...

Karl Zelik
Vanderbilt University

A team of engineers at the Vanderbilt University has designed a smart...

Melissa Tate
University of New South Wales

<div><div><div><div><b>Melissa Tate</b>, a well-known scientist currently...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Chandani Sahi
By Chandani

By Chandani is a womenswear prêt couture brand with fusion silhouettes by...

Rajesh Pratap Singh
Rajesh Pratap Singh

<div>Ace fashion designer <b>Rajesh Pratap Singh</b> has used Tencel to...

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

Leave your Comments


August 2018

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

news category


Related Categories:

Advanced Search