Raw material prices are on the rise
A textile industry body in France, UIT, has issued a statement to warn customers that the prices of raw materials and of freight are “soaring”.
UIT, which represents 2,200 companies in France involved in knitting, weaving, finishing and other textile activities, has warned clothing brands and retailers that shortages of raw material, supply disruption, delivery delays and price increases are likely because the effects of slowdowns and shutdowns, caused in the last year by covid-19, are slowly beginning to be felt across the world.
Suppliers’ ability to mitigate this is coming to an end, UIT said, because companies have been drawing on raw material inventory that they and their partners had in stock and that stock is now close to being used up.
With demand for textiles picking up now, the organisation warned that the price of linen, cotton, polyester and other fibres has been rising for the last five months. At the same time, it claimed, the cost of maritime freight is now five times higher than a year ago.
Specifically, UIT said the price of polyester is between 50% and 80% higher than a year ago and the price of recycled polyester fibre 60% higher. Cotton is now 35% more expensive than five months ago, while organic cotton is double the price it was a year ago. Linen has risen in price by 25% since September while wool is now 10% higher than it was then.
Image: UIT.
