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Bamboo, rattan suppliers cap prices
Viet Nam's bamboo and rattanware suppliers plan to enhance their competitiveness by keeping export prices unchanged over the next six months and focusing on "green" materials sourced from sustainable plantations.
According to the "Viet Nam Sourcing Report: Bamboo & Rattanware", 66 per cent of interviewed suppliers said they would not change their export price quotations for the next six months, while the remaining planned to keep price hikes to a maximum of 5 per cent.
Nearly 90 per cent of local suppliers interviewed for the report expected export to increase by at least 10 per cent over the next 12 months, the report said.
About 40 per cent of suppliers will release new designs with decorative patterns in the coming months as part of efforts to become more competitive, while an equal percentage of local makers will focus on raw materials sourced from sustainable plantations that are managed in an environmentally friendly manner.
"Vietnamese bamboo and rattanware makers have the great advantage of using raw materials from their own plantations, instead of having to rely on imports," said Vu Ngoc Khiem, Programme Manager of the Kearny Alliance's Developing Country Export Assistance Programme.
They also planned to combine various "green" materials such as wood, sea-grass, water hyacinths and palm leaves to produce unique designs as a trend for next year, he added.
The report said half the suppliers would target the EU market.
The total capacity of suppliers covered by the survey is 1.53 million pieces per month, of which 85 per cent are exported.
Nguyen Nha, Director of the Tan company, one of exporters the specialising in the report, said: "We are confident that our current and potential buyers will be interested in our unique modern designs that creatively combine bamboo and rattan with water hyacinth and sea grass."
Increasing exports would create more jobs for local population, Khiem said.
The local makers featured in the report currently employ over 7,000 workers.
The report, one of a series of emerging market Sourcing Reports, was published by the US-based non-profit foundation Kearny Alliance that helps businesses in developing economies.
It features profiles of 38 export manufacturers with verified manufacturing and production capacity plus description, prices and packaging details for more than 104 popular exports including handicraft items, furniture, home furnishings, kitchen accessories and bags.
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