The rising prices of raw materials are continuously impacting the input cost of plywood manufacturing. The timber price has been continuously rising from last month. And now the rising cost of resin, formaldehyde, fuel, and labour wages has also begun to affect the industry in terms of rising input costs for finished products.
Seeing the trend as unbearable for the manufacturing fraternity, the associations concerned with respective regions had called meetings and discussed the issues. Till date, associations based in Haryana, Bareilly, Delhi, Kandla, etc have called their meeting and unanimously announced the price hike in plywood products.
HPMA (Haryana Plywood Manufacturers’ Association) issuing a trade advisory announced a price hike of 7% on all types of plywood, block board, and flush doors with immediate effect. They called a meeting of the executive committee on December 29, 2022, in Yamunanagar and discussed the rising input costs due to rising prices of timber, fuel, labour wages, etc. and felt it was absolutely necessary to increase the rates of finished products in order to offset the increased input costs.
Delhi NCR Plywood Manufacturers’ Association called a meeting on December 22, 2022, under the chairmanship of Mr Vikas Khanna, President, regarding the high cost of poplar, safeda, firewood, and chemicals. After considering the matter with other members, it has been concluded that the price of plywood, block board, and flush doors should be increased by 7% from the existing level to safeguard the interests of plywood manufacturers.
Plywood Manufacturers Association, Bareilly, in a meeting held on December 21, 2022, decided to revise the prices of finished goods due to an unusual increase in the price of timber and formaldehyde. They finally increased the prices of plywood, block board, and flush doors by 5% which was implemented with immediate effect.
KTA (Kandla Timber Association) called up a meeting on December 27, 2022, in Gandhidham Kutch for all the manufacturers of plywood to discuss the impact of rising costs of resin and other raw materials on the production cost of plywood and other allied products. The members decided that to mitigate the impact of the rising cost, the rate needed to be increased by 8% on all products as of January 1, 2023.
Association of Indian Plywood and Laminates Industries informed on 29 December, 22 to increase the prices of plywood and panel products by 8 % with immediate effect due unaffordable increment in timber, glue and labour expenses.