2021 Forecast - Greenaways: Steep rise in ex-China synthetic prices
Durban, KZN, SA - The cost of synthetic upper materials, which are currently all imported, mostly from China, has risen steeply this year, according to Garth Ribbink, member of A. Greenaways (Natal) (Pty) Ltd, one of the leading importers.
He forwarded correspondence from suppliers in China.
One wrote: "During [the past] one month, the exchange rate of RMB became strong (about 3% raise), sea freight up (Last sea freight of 20' was US$650, now it is more than US$1780) and cost of material up (PU resin, backer fabric and factory workers' wages are all raised), so in future I think we have to increase price of product.
"This year, I let price of most products [go below] last year, now it will be UP...Sorry to let you know this information."
Another wrote: "Just last week I told you the sea freight for 1x20'ft container is US$1050.00 and yesterday we were told it is now double.
"The sea freight recently is US$1030.00 per container. Inland charge is RMB3945.00 = US$585.00; 1x20'ft container could have around 12000 Mt. of 1.60mm PVC. So the freight cost is US$0.14/m, not including the insurance. Ex factory price is RMB17.00/m.
“Many Textile orders came back to China last time these orders were made in India during these last 2 months cause of the demand for Textile cloth it drives the price up. So, fabric factory can’t improve yield so it is difficult to getting back cloth.
"So, now factory is 'boss' before customer was 'boss'."
This article s part of a feature set of articles that were published in S&V Footwear & Leather Goods Magazine Vol83 No11 November 2020
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