With the prices of raw material going up rapidly, textile and clothing industry of Qingdao is facing problems of higher manufacturing cost and local producers are increasing their product prices as their profit margin is declining.
The cotton price in China is highest in the world and yield this year has touched about 6.73 million tons but the country demands about 12 million tons. This is the reason behind high cotton prices.
Labour problem and electricity crisis also adds up to the cause of high cotton prices.
Fibre2fashion News Desk - China
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