Exporters are facing transportation problems such as vessel capacity constraints and soaring freight rates, leading to two weeks to two months of cargo delays and reduced revenues.
According to Filipino newspaper reports, this situation is causing production space issues, shipping delays and cash flow issues.
This, along with other issues such as delayed release of permits and import permits, rising costs, and shortage of raw materials, will increase manufacturing costs and lead to continued loss of business in favor of Vietnam and Indonesia.
Fares have risen from about $ 4,000 to $ 12,000 per 40-foot container, making the product less competitive.
PHILEXPORT President Sergio Ortiz Luis, Jr., said that while this is a global issue that no one can control, the government and private sector must work closely together to effectively address logistics constraints. Said to.
Fiber2Fashion News Desk (DS)
Filipino garment exporters have recently joined a call for the government to intervene and address the country’s deteriorating transport and logistics situation. Robert Young, a fiduciary in the textile sector of the Philippine Export Federation, said the domestic garment industry has lost millions of dollars due to supply chain pressure.
Filipino clothing exporter concerned about logistics issues
Source link Filipino clothing exporter concerned about logistics issues