Composite Fabric,bonded fabric,Lamination Fabric Lamination Fabric News The impact of Vietnam’s increase in import taxes on polyester staple fiber on my country

The impact of Vietnam’s increase in import taxes on polyester staple fiber on my country



According to the latest news from the Ministry of Finance and Economics of Vietnam, the import tariff on polyester staple fiber (tariff number 55032000) will increase from 0% to 2% starting from October 11, 201…

According to the latest news from the Ministry of Finance and Economics of Vietnam, the import tariff on polyester staple fiber (tariff number 55032000) will increase from 0% to 2% starting from October 11, 2015. How much impact will this news have on my country’s polyester staple fiber export market? First of all, from a volume perspective, from January to July this year, my country’s polyester staple fiber exports to Vietnam were 19,500 tons, accounting for 3.55% of the total polyester staple fiber exports. Among them, direct-spun polyester staple fiber exports were 12,600 tons, accounting for 12,600 tons of direct-spun polyester staple fiber exports to Vietnam. 64.6%. From a quantitative perspective, the market share of polyester staple fiber exports to Vietnam is not large, averaging around 2,000-3,000 tons per month. Moreover, the volume exported to Vietnam has been shrinking in recent years.
From the perspective of factories, since this year, the main direct-spun polyester staple factories exported to Vietnam include Sanfangxiang, Sinopec, Huvis and Huaxi Village. Among them, Huvis exports mainly three-dimensional hollow fibers, while others mainly export 1.4D short fibers for spinning. The scale of staple fiber factories for spinning is generally large, so Vietnam’s export volume accounts for a very small proportion of the output of these direct-spinning polyester staple factories.
From a price point of view, since this year, the export price of semi-glossy 1.4D outer disk has fluctuated between 900-1150 US dollars/ton. If the tariff is increased by 2%, the raw material cost of local yarn mills in Vietnam will increase by about 20 US dollars/ton. This needs to be combined with factors such as the affordability of local spinning mills and the export price of Indian polyester short goods to determine the impact of this aspect.
Overall, Vietnam’s current round of raising import tariffs has had little impact on the exports of domestic direct-spun polyester staple factories, but it has accelerated the decline in China’s direct-spun polyester staple exports to Vietnam to a certain extent. In addition, Vietnam’s move will pave the way for the TPP agreement to a certain extent and prevent other countries from following suit and causing a butterfly effect.

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Author: clsrich

 
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