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12 July, 2019 09:56:20 AM

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Garment prices keep falling

1.61pc drop in last 4 yrs as brands reluctant to hike prices
Staff Reporter
Garment prices keep falling

Bangladesh is getting lower prices of garment products from the international brands and retailers day by day despite the fact that the production costs have been increasing. According to NBR data, the prices of RMG products have fallen down by 1.61 per cent in last 4 years.

The date also shows that the unit price was $ 13.37 per kg in the fiscal year 2018-19 while it was $ 13.18 per kg in fiscal year 2017-18 and   the unit price was $ 13.74 per kg in 2016-17 fiscal year, and $14.04 per kg in 2015-16 fiscal year.

Though unit price has increased by 1.42 per cent in fiscal year 2018-19, the compound annual growth rate (CAGR) of value addition during FY2015-16 to July-April FY 2018-19 showed a negative trend by 1.61 per cent.

Replying to a quarry, Rubana Huq, president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) said that the value addition is literally insignificant. Bangladesh’s apparel exports have lost 3.64 per cent value in terms of price per unit during 2014-2018, whereas Vietnam’s price has gone up, said Rubana Huq.

Is the continuity of business more important than sustainability, she raises the question. She also said one of the main reasons for lower prices of Bangladeshi garment products is that the buying houses are mainly negotiated the businesses dealing.

“Our production cost has increased vastly compared to several years in various reasons. Besides, we have been able to develop our products’ quality. But buyers do not maintain responsible buying practices. They want to buy the products at the same cheap rate that was set long ago,” said Mohiuddin Rubel, representative of Bangladesh at the United States and Managing Director (MD) of Bangladesh Apparel Exchange and also Director of Denim Expert Limited.

HM

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Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
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Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

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