Masks face market glut: cost plunges by 50%

News

Face masks have now flooded the market, dragging down the price by 50 percent from Bt20 a unit to Bt10. 

Thai Garment Manufacturers Association president Yuttana Silpsarnvitch said that with garment entrepreneurs jumping in to produce fabric face masks, there will now be an oversupply in May as there is no new demand since masks are washable. 

Garment exports have declined and could see minus growth compared with previous years when exports expanded at an annual rate of 3-5 percent. 

Market share is expected to see a 50 per cent drop in the US, Europe and Japan. In the first three months, clothing exports fell -5 percent.7 per cent, totalling Bt15.51 billion, he said. 

These businesses will find it hard to continue operations, so the government has been asked to help, he added. 

https://www.nationthailand.com/news/30386844