A recent survey has found that only 35 per cent production capacity in the RMG industry has been booked, leaving the remaining 65 per cent empty for the consolidated period of July-December 2020, reports UNB.
In July, only 56 per cent capacity is utilized, said the Bangladesh Garment Manufacturers and Exporters Association (BGMEA). The huge shortfall in orders in the market has also made the RMG prices to take a nosedive, according to the BGMEA, the apex body of the country's apparel industry.
The price trend has been showing a 14-per cent dip on average in the second half of 2020 as compared to the last year.
As per various international studies, there may be a massive drop in clothing consumption in the western market due to the continuing effects of COVID-19, the BGMEA said. To have a clear idea, the BGMEA invited its members to provide detailed information of their orders in hand in the BGMEA portal.
So far, 100 factories responded. Based on this, they have projected the current market scenario for the second half (period of July-Dec) of 2020.
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