Raw material prices have spiked up, rate of panel products should be increased by 4-6 percent

person access_time2 10 June 2024

The plywood and panel manufacturing sector is currently grappling with significant cost pressures. Over the past months, the prices of raw materials have surged by 8-12%, which has substantially increased our input costs. In addition, we are facing rising fuel charges, higher administrative and employee costs, increased transportation expenses, and escalating timber prices. This cost escalation also affects imported plywood and MDF, with an increase of around 10-12%.

Given these challenges, it has become inevitable for us to pass on a portion of these increased costs to ensure the survival and sustainability of our industry. Without this adjustment, many producers may find it challenging to continue operations.

Therefore, we recommend that manufacturers of plywood, MDF, particle board, laminates, and other related products conduct a thorough cost analysis and consider implementing a price increase of at least 4-6%. This measure is crucial to maintain the viability of our industry and ensure its continued growth and stability.

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