On February 1st, the Chinese New Year begins, and this year we are launching the Year of the Tiger. As we already know, during this holiday the Asian country stops its productivity completely for almost a month. For this reason, the factories close and there is an exodus of the workers to the rural world to visit their families.
If we focus on imports, the Chinese New Year (CNY) is a key moment in which you have to take into account several key factors:
The weeks before and after the holiday are prime time for errors
Production plants need about a month to return to activity
It is vital for importers to plan their purchases well in advance to adjust production and shipments
It is not advisable to make any prepayment before the CNY
The prices of products and freight tend to rise before the holiday
After the reactivation, factories usually have pending orders, so new orders are scheduled for one month later
At Easyfish we advise you to plan the purchases of necessary products for the first months of the year once the summer ends. This way, you can work well in advance to ensure shipments and avoid price risings. After the CNY, the purchases of the products necessary for the next summer season must also be done in advance.
This holiday is a relevant milestone that every importer must take into account to avoid stockouts. At the same time, it is also an event that must be planned to help the partners in origin supply the raw material accordingly to the needs of your company.
At Easyfish we advise you to plan the purchases of necessary products for the first months of the year