It is well known that the cost of production has been sky rocking in recent years.
Such as oil, the shortage of oil will drive prices up. As far as I know, gasoline prices skyrocket in various parts of our country. The bad weather and polluted water will make vegetable yield greatly reduced. When the supply can hardly keep up with the demand in the market, the price will skyrocket. So the price is all subject to the fluctuation of the market. The cost of safety vest and reflective material is no exception.
Our sense of security has greatly increased in recent years. We often see people wear a reflective vest when they are walking. Running, riding a bike and so on. Now reflective vest plays a very important role in our life, whether we realize it or not.
According to report, the safety vest is greatly needed this year, I think there are two main reasons:
1. The government of China issued a new rule at the beginning of this year: every car needs a safety vest. This main reason lead to the supply can hardly keep up the demand in the market, at the same time, the stock of last year is not enough, for a variety of reason, markets for safety vest have gone up a great deal this year. So the price of safety vest is shared according.
2. The cost of production has been skyrocketing in recent years. Especially the cost of material and labor is almost 10% higher than last year. At the same time, we got information that the three main dyestuff supplier in Jiangsu province of China shut down last month due to the eco-environment control. A lot of fabric dyeing factories are closed as well. This reason makes high visibility fluorescent fabric costs increase around 10% at this moment. At that time, it is not only the price issue but also the production capacity problem.
As regards that the high visibility fluorescent fabric and reflective safety vest, we suggest keeping sufficient fabric and reflective material stock, plan advanced to avoid any problem.