Haryana Plywood Manufacturers’ Association (HPMA) has announced the price hike of plywood, board and doors and film face plywood and the industry stake holders have been informed for the same. The association issuing a letter to the members said the price of plywood, board and doors have increased by 7% and film face plywood price of all types has increased by Rs 2/sq ft. the members of the accepted the price rise.
The revised rate has been implemented with immediate effect from the date of announcement and issuing the notification. The decision has been taken in the meeting of the executive committee of HPMA held on 24 July, 2021 after the discussion on the matter of ever rising input cost of production with increasing price of timber, formaldehyde, preservative, dipping chemical, phenol, and shuttering base paper.
Mr J K Bihani, President, HPMA said, “The Raw Materials prices have been continuously increasing; hence manufacturers are forced to pass it on to the market. The association took such decision due to manufacturers’ inability to observe the sharp rise in input cost. It is evident that there is a sharp rise in price of raw materials, cost of fuel, labour and freight rates.”
Haryana is the largest producers of plywood, boards and doors in the country and caters about 50% market with there are around 600 plywood manufacturing units in the region. The price rise will definitely impact the market.