Handicraft, decor and gifts exporters lost at least P8 million to P10 million due to the destructive monsoon rains that hit Metro Manila and other parts of Luzon the last several days, the Philippine Chamber of Handicraft Industries Inc. said.
PCHI president Dennis Orlina said the final amount will probably be even higher, as many company owners have not yet made or turned in their assessments.
"The flooding also caused work stoppage. And we have to pay more now to do some rework. People have to work overtime," Orlina said in a statement.
Orlina said stocks of raw materials and packaging materials were severely damaged when floods hit warehouses in Pampanga, Cainta, Taytay and Antipolo.
However, he added that these businesses could meet their delivery commitments by the end of the month.
Orlina also urged handicraft companies to increase their participation in local trade fairs, particularly the Buy Pinoy Exporters' Fair to be held this week.
"This is an opportunity for them to recover a bit their losses," he said.
The continuous rains had also temporarily halted production in the holiday decor and giftwares sector. - BM, GMA News
source: gmanetwork.com
