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10/06/2021
RMG accessory makers take a hit as raw material prices skyrocket
It's a paradox. Garment accessories and packaging makers are now losing money even though apparel exports are climbing.
The explanation is simple: prices of raw materials used by the backward linkage industry have skyrocketed in the international market but garment manufacturers, the clients of the industry, are not ready to pay higher prices.
Increased demand following the complete rebooting of manufacturing hubs in China and India after the Covid-led shutdown has caused a steep hike in prices of necessary raw materials such as polymer, yarn, kraft paper and chemicals ranging between 40% to 80%.
Read more: https://www.tbsnews.net/economy/rmg/rmg-accessory-makers-take-heat-raw-material-prices-skyrocket-258448
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