The revival of wedding industry and space booking enquiries has generated good lift up for eco-grade plywood. The renovation work cast positive impact on economical grade plywood production and sales during September and October. The pickup started in economical grade plywood in second week of September and still continued and hopefully to continue till December. The prolonged and double the numbers of marriages are expected to extend a continuous supply pressure on producers as demand from rural areas have been stronger than pre-covid levels. The Ply Reporter’s estimates that During September and October, the demand for eco-grade plywood was 15 % higher compared to Pre-covid levels noted during January 2020. The average order pendency swelled from normal a week time to 25 days with eco-grade plywood industries. The scenario was not so optimistic for mid segment plywood though in the same period.
The economical grade plywood ranging around 43 or below was significantly above average the normal markets. The middle range and value added plywood like MR and Marine grade plywood was initially decent but later slumped in November. The November month reports coming from each state indicating a continued strong demand for eco-grade but 30 % lesser in above 50 PSF category.
The eco-grade segment of plywood is consumed by unorganized furniture makers, middle class consumers and contractors. The 3-lakh crore wedding industry fast paced in October and November that generated eco-grade plywood and laminates demand in large quantity. It may be due to season of mirages, as plywood is required for tent and shamiyana making,” said J. K. Bihani, HPMA. According to an estimate out of 5 lakh corer event industry’s assignments 60% is used by wedding industry. To make up the lost sales for month of April, May and June 2020, even the quality buyers are asking for low priced plywood these days’ is a general view expressed by the trade to the Ply Reporter.