The skyrocketing prices of the key raw materials & chemicals like Phenol and Formaldehyde has relentlessly been pushing the plywoods, Doors & laminate manufacturers across the country to the edges. The surge in every raw material that is required for producing wood and panel products have once again breached the cost bearing threshold of manufacturing companies. During the last two days there have been various meetings that were held among regional industry clusters to evaluate the impact on input cost of the finished products.
The day to day volatility & rapidly changing scenario is clearly suggestive of a turbulent path where petrochemical products have shot up & almost doubled. Even the cost of Poplar timber has crossed the 1750 mark again. As reported by Ply Reporter two days back, phenol is hovering at Rs 160, and formaldehyde is at an all-time high, crossing Rs 40 which poses a very grim picture in the immediate future.
The prices kept surging all through the week from 23rd to 28th March and the situation is still highly volatile on March 30th. Consequently, the price increment seems imminent, most probably from 1st April in all wood & panel product categories as all the Ply, Laminate & door manufacturers associations have unanimously indicated the inevitable need of sharing the burden of input cost into the market.
