The apparel accessories’ manufacturers in Bangladesh are faced with the challenge of increased raw material prices of late, which is adversely affecting their business.
Media reports maintained this while adding that lately prices of necessary raw materials such as yarn, chemicals, polymer, kraft paper, etc., have gone up ranging from 40 per cent to 80 per cent.
… kraft paper we used to import earlier at US $ 800 per tonne has now become US $ 1,400, reportedly, maintained the owner of SAMS Packaging AKM Mustafa Selim while interacting with a news daily even as he went on to add that as garment exporters are reluctant to increase prices for packaging items they buy from them, the accessories’ manufacturers are forced to reduce production to minimise losses.
Meanwhile, President of the Bangladesh Garments Accessories and Packaging Manufacturers and Exporters Association (BGAPMEA) Abdul Quader Khan further maintained that freight costs have also gone up but the accessories’ makers were not getting increased prices, as a result of which, factories were struggling for survival.