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Vietnam's coffee exports in January are estimated to have dropped 17.6 percent from a year earlier to 120,000 metric tons, while rice exports likely fell 29.5 percent, government data released on Friday showed.

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WORLD FOOTWEAR BUSINESS CONDITION SURVEY- 1ST SEMESTER 2020

2020-05-12 17:26:55

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WORLD FOOTWEAR BUSINESS CONDITION SURVEY-

1ST SEMESTER 2020

Since the previous edition of this bulletin, in January, the Covid-19 epidemic has strongly dented the world economy and the footwear business with it. This is evident in our survey.
 
Most of our panel members believe that over the next six months the quantity of footwear sold will fall and prices will decrease. Perspectives are everywhere negative but particularly so in Europe, where 9 out of every 10 respondents expect the quantity of footwear sold to diminish. Weak demand both in home and international markets is now our experts’ main concern, pushing competition in international markets to the seventh position in the list of the footwear business difficulties that it previously led. Almost half of those interviewed also mention financial difficulties.
 
When questioned specifically about the impact of the epidemic on consumption, as compared to a no-epidemic scenario, our panel members, on average, are forecasting a 22.5% reduction, with some regional variation. Should these forecasts prove accurate, footwear consumption this year will fall by 696 million pairs in North America, 908 million in Europe, and 2.4 billion in Asia.
 
Most respondents also believe the epidemic will have lasting consequences for the location of footwear production with firms diversifying their sourcing among multiple countries, to reduce risk, or bringing production closer to the consumer markets.
 
Read full article here.