Bangladesh’s textile and apparel exports affected by rising fuel prices
The recent increase in fuel prices in Bangladesh has pushed up the overall cost of doing business, affecting the competitiveness of the country’s domestic textile and apparel industry in the global market. This price increase comes at a time when the industry is beginning to recover and is receiving a large number of orders. In addition, the prices and freight charges of raw materials such as cotton and yarn have increased, making it even worse.
The Bangladeshi government increased the retail prices of diesel and kerosene by 15 Taka (Tk) per liter, approximately US$0.18, in early November.
Mohammad Shahidullah Azim, vice president of Bangladesh Garment Manufacturing and Export Association (BGMEA), said that since many factories use diesel generators, the current business costs have increased and transportation costs have also increased. will rise significantly.
According to Bangladeshi media reports, the country may not be able to ship goods in time as a result, and the industry is already at a disadvantage due to long delivery times.
Exporters are worried that this situation may have negative consequences, as they will face additional customer complaints and liabilities due to failure to deliver goods in time.
Mohammad Hatem, executive chairman of the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), said that the local knitting and dyeing industries related to knitwear all use diesel.
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