Increased freight rates on major sea routes, particularly the Bangladesh-China route — according to reports,the shipment cost of a 40-foot container on the Bangladesh-China route has increased by US $ 2,000 in a span of three weeks even as traders now have to pay US $ 8,000 for a 40-foot loaded container which was just US $ 6,000 three weeks ago — have emerged as major worry for the Bangladesh garment sector as it is highly dependent on China for meeting its raw material requirements.
Media reports maintained this adding, freight charges on the Bangladesh-USA route have also increased from US $ 3,000 to US $ 18,000 per 40-foot loaded container, meaning around 500 per cent increase, in phases over the last year, while on the Bangladesh-Europe route, freight charges have, reportedly, increased 400 per cent to US $ 12,500.
Meanwhile speaking to the media, BGMEA Vice-President Rakibul Alam Chowdhury, reportedly, maintained the increase in freight rates on the China-Bangladesh route has hit production and raised production cost, even as he went on to add that this apart, local goods transportation costs have also increased due to the recent fuel price hike.
“….we have to increase staffer’s salaries by 5 per cent as the new year begins, but our buyers are not increasing the product prices,” reportedly, the BGMEA Vice-President further said.
