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Local kitchenware exports get fired up
Viet Nam kitchenware suppliers expect export sales to grow by at least 10 per cent this year as overseas demand has picked up, according to a report by Kearny Alliance, a US-based nonprofit organisation which helps businesses in developing economies.
The report was issued prior to the Global Sources' Private Sourcing Event, which will be held in HCM City on September 16.
It is expected to bring some of the world's biggest buyers, including ICA, Arena, Next, Target AU, Metro and Canadian Tire HK, to meet with quality Viet Nam suppliers.
"The fact that big-name buyers with combined annual sales of more than US$60 billion are reviewing our suppliers' profiles in preparation for the Private Sourcing Event highlights the competitiveness and quality of these exporters," said Vu Ngoc Khiem, Manager of Kearny's developing country export-assistance programme.
Of the 97 per cent of surveyed suppliers who were optimistic about sales growth, 55 per cent expected sales to surge more than 10 per cent this year.
According to the survey, export prices range from less than 15 cents to more than $32, depending on product, type of material and design.
Total capacity of the suppliers who responded to the survey was 40 million pieces per month, half of which were exported.
Cookware and kitchen accessories accounted for 86 per cent and 10 per cent of total output, respectively.
"Suppliers surveyed in the report said they were rolling out new competitiveness strategies, including enhancing R&D with items made of eco-friendly materials and keeping quotes unchanged to retain current buyers and attract new customers," Khiem said.
One supplier profiled in the report, Nguyen Xuan Phu, general director of Sunhouse JSC, said: "Many buyers are coming back to our company inquiring about nonstick and stainless steel cookware. This gives us optimism about the increase in export sales for this year."
"We are excited about the opportunity to be a verified supplier on Global Sources' B2B website and to meet buyers face-to-face at the Private Sourcing Event here in Viet Nam," he added.
Khiem said the surveyed suppliers also planned to emphasise traditional overseas markets.
"Close to two-thirds of them will focus on the EU, while a fifth will target Asia-Pacific. The rest caters to North America," he said.
The Viet Nam Sourcing Report: Kitchenware, one of a series of emerging market sourcing reports by Kearny, featured profiles of 33 export manufacturers, plus descriptions, prices and packaging details for 103 best-selling export products.
These included fruit baskets, food trays, frying pans and disk racks made of metal, rattan, wood, bamboo, ceramic, metal, plastic and other materials.
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