Nicaragua: A Sharp Increase In Cotton Prices Has Led To A Serious Impact On The Garment Industry.
Nicaragua
DeanGarcia, executive director of the textile and garment industry association, said that due to the dramatic rise in international cotton prices in 2010, the operating costs of Nicaragua garment makers will increase sharply.
Additional cost
In the case of smooth pition to the terminal, Nicaragua's textile and garment manufacturers in 2011 will face another wave of crisis since the 2008 recession.
Because of mainland China
Cotton demand
The sharp increase in international cotton prices in November led to another record in November. Cotton prices have risen 56% in the past 3 months, and 1 times higher than the same period last year.
Accordingly, the chief executive recommends that the operators should adopt the way of reducing the cost as far as possible, and hope that the Nicaragua customs units can provide convenient customs clearance measures to reduce the cost of clearance.
Although the US and international economic boom has been growing slowly, the export of garment manufacturers in Nicaragua has rebounded slightly, but because the United States, the Central American and Dominica free trade agreement (CAFTA) give preferential treatment to Nicaragua textile industry (TPL, TradePreferencesLevel) is due to expire in 2014, and it also constitutes one of the important variables that affect the operation of textile operators.
In short, facing the rapid change of market situation, the primary task of Nicaragua's textile and garment industry is to grasp the steady business strategy as early as possible and seek sustainable development.
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