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

Pic: Shutterstock

Apparel/Garments | On 15th May 2021

Australian govt earmarks Au$1 mn for boosting fashion industry

The government of Australia has earmarked Au$1 million to promote and ...

Pic: Sorbis / Shutterstock.com

Apparel/Garments | On 15th May 2021

Prime Content| US textiles & apparel imports grow 4.32% in Q1 2021

The import of textiles and apparel by the United States increased by...

Pic: Amanda Wakeley

Fashion | On 15th May 2021

British luxury fashion company Amanda Wakeley enters administration

The British luxury fashion designer Amanda Wakeley’s company, AW...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Value of 'Made in India' should get more importance

Textile Industry, Head honchos

Textile Industry
Head honchos

Indian apparel industry looks poised for slow death

Textile Industry, Head honchos

Textile Industry
Head honchos

Great step towards realising end goal of 'AtmaNirbhar Bharat'

Dhirubhai & Arvind Shah,

Dhirubhai & Arvind Shah

It supplies synthetic fabrics to top international brands like M&S,...

Sandra Sequeira,

Sandra Sequeira

The JD Institute of Fashion Technology is the educational division of JD...

Shivendra Nigam,

Shivendra Nigam

Delhi-headquartered Cantabil Retail India Ltd was founded by Vijay Bansal...

Asif Rahman, MIP

Asif Rahman
MIP

MIP is a manufacturer and distributor of high-performance textiles and...

Silverio Baranzano, Fitesa

Silverio Baranzano
Fitesa

Fitesa is a leader in the nonwoven fabrics industry, specialising in...

Shujaul Rehman, Garware Technical Fibres

Shujaul Rehman
Garware Technical Fibres

Garware Technical Fibres Ltd (formerly Garware-Wall Ropes Ltd) is a...

Vidur Adlakha & Riccardo Bennidini, La Fuori

Vidur Adlakha & Riccardo Bennidini
La Fuori

With an active presence in US, Italy and India, clothing brand La Fuori...

Sweta Agarwal, A Humming Way

Sweta Agarwal
A Humming Way

A Humming Way (AHW) is inspired by the old-world regalia of Rajasthan...

Sweta Tantia, Tahweave & Garo

Sweta Tantia
Tahweave & Garo

Designer Sweta Tantia owns Garo, a couture indutva or ethnicwear brand,...

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


May 2021

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


Advanced Search