Hoang Thi Loan Textile Joint Stock Company: Difficult output products, backlog of goods

(Baonghean.vn) - For many reasons: fluctuations in the Chinese yuan, competition with Indian yarn, holidays in importing countries... caused the export turnover of Hoang Thi Loan Textile Joint Stock Company to decrease.

Inventory at Hoang Thi Loan Textile Joint Stock Company

Since the beginning of the year, Hoang Thi Loan Textile Joint Stock Company has exported 5,400 tons, reaching a turnover of 12.6 million USD. However, since September, domestic consumption and export have encountered difficulties, with goods remaining in stock.

Hundreds of tons of products are stacked on the company premises.

Mr. Cao Xuan Hoi - Director of the Company said: The main export markets of the enterprise are China and Egypt. However, due to the recent fluctuations in the Chinese Yuan, combined with the Chinese National Day holiday and the Ramadan holiday of Muslims in Egypt, competition with cheap Indian yarn products has led to slow consumption and backlog of goods. Normally, the factory produces 1,400 tons of yarn per month and consumes 1,100 tons per month, but exports in the first 10 months of the year were only 90% of the same period. Of which, September exported 364 tons and October exported 265 tons of products (normally 3 containers are exported each month, equivalent to about 600 tons). In the past, partners only signed monthly sales contracts, not long-term contracts.

Although output is difficult, the company still has to maintain production and create jobs for workers.

Consumption is difficult but the company must maintain production to create jobs for workers, consuming about 7 billion VND of electricity per month.

Thu Huyen