"79% RMG buyers yet to increase product price: Survey", 30 January 2024

Although Bangladesh’s apparel sector implemented new wage structure in December last year and buyers committed themselves to adjusting increased cost, 79.1 per cent of readymade garment makers said that their buyers are yet to increase product price.

Only 3 per cent buyers increased product price up to 5 per cent, said a survey conducted by Forum, a panel of Bangladesh Garment Manufacturers and Exporters Association (BGMEA)...

The survey was conducted on 66 RMG makers.

According to the survey, 4.5 per cent buyers increased product price by 1 per cent, 6 per cent by 2 per cent, 3 per cent by 3 per cent and 4.5 per cent by 4 per cent...

The survey showed that last year average 3.9 per cent FoB price declined year-on-year amid high inflation, and 47.1 per cent manufacturers said that buyers reduced FoB price by over 5 per cent year-on-year.

It also said that only 19.1 per cent of the factories were able to manage hundred per cent orders for the next four months, while 42.6 per cent claimed that they had less than 50 per cent orders during the period compared to their capacity.

Faisal Samad said, “Due to the global economic crisis, our RMG industry is suffering. Such kind of survey helps find out the real scenario...”