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Article: OIL, QUOTAS THE TALK OF L.A. SHOW.
- Article from:
- WWD
- Article date:
- November 9, 2004
CopyrightCOPYRIGHT 2004 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Nola Sarkisian-Miller
LOS ANGELES -- The squeeze play caused by rising oil prices igniting costs and the looming end of the quota system instigating price competition had executives at the Los Angeles International Textile Show at the California Market Center looking for a competitive edge.
The price of oil, which closed last week at $49.61 a barrel -- off its recent peak of more than $55 a barrel, but still high -- is driving up many aspects of fabric pricing, from the cost of oil-derived synthetic fibers and the price of energy to run looms to the cost of bunker fuel to ship imported textiles and garments across the Pacific Ocean.
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