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Material costs weigh on textile makers

(Global Times)

08:15, June 04, 2012

The biggest challenge to China's textile industry is not increased labor costs, but raw material expenses, which are much higher in the domestic market than in the international market, according to the China National Textile and Apparel Council (CNTAC).

Cotton prices in the international market have been sinking since September, expanding the price difference between the domestic and overseas markets from the previous spread of 1,000 yuan ($157.01) per ton to the current gap of 5,000 yuan. The widening price difference has undermined the international competitiveness of China's textile industry.

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