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us to begin by thanking you for all you have done to secure
a foothold for our products in your market. Your ability to
maintain sales despite the negative factors affecting our
business is highly regarded here.
We have also had our troubles. The biggest of these has
been the sharp depreciation in the value of the U.S. dollar
on which all our prices are based. Every effort has been
made to absorb this drop in revenue through cost reduction
measures. However, with the depreciation now reaching 20%,
it has become impossible to unilaterally absorb these losses.
Consequently, we have decided to raise our export prices
10% across the board effective April 1.
We realize this will not make your situation easier. However,
please consider the fact that we have been running in the
red for three months now. Also, bear in mind that by asking
for only 10% we are seeking to share and not shift the entire
burden.
Your understanding and cooperation in this regard will
be very much appreciated.
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