China's leather manufacturers to raise export prices in 2007 - survey |
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Thu, 01 Feb 2007 10:25
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BEIJING (XFN-ASIA) - Global Sources Ltd, a provider of media and export market services, said 87 pct of China's leather garment manufacturers plan to raise export prices in 2007.'Due to higher import taxes, the price of raw leather shipped into mainland China is projected to rise this year,' said Michael Kleist, general manager of content development at Global Sources.'Manufacturers also expect to be hit by the revaluation of the yuan and rising labor costs,' he added.But he said most manufacturers expect to limit price increases to 10 pct or less in order to remain competitive for overseas orders.Of the producers surveyed for its 'China Sourcing Report: Leather Garments,' 6.0 pct said they plan to raise prices by 10 to 15 pct, 52 pct expect price increases between 5 and 10 pct and 42 pct plan price increases of less than 5 pct, the company said in a statement.Kleist said Russia is currently the top importer of Chinese-made leather garments, but many producers will reduce shipments to the neighbor next year as new tax policies will hamper exporters.'A large percentage of suppliers are now producing higher-end models and shifting their export focus to the EU and US markets,' he said.Among producers surveyed, 40 pct said they plan to target exports to the EU, 33 pct plan to focus on the US and 12 pct are planning to target Asia.The remaining 15 pct said they plan to focus on non-EU European countries, the Middle East, Africa and other regions.sean.mangieri@xinhuafinance.com
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