Manufacturers Associations of Haryana, Punjab and Delhi-NCR has decided to increase the price of plywood products by 5 percent which is effective from January 1, 2018.The Associations have given the rise in the input cost due to increase in the prices of phenol, formaldehyde, timber and other expenses after implementation of GST.
In a meeting held in Yamunanagar, Haryana Plywood Manufacturers Association reasoned that the raw materials prices such as Formaldehyde, phenol, wood, and urea have gone up, hence the prices of finished good such as plywood, block boards and doors are to be increased by 5 percent and 12mm film faced plywood by Rs. 2 per square feet. Mr. J K Bihani, Secretary of Association informed that the new rates are being implemented from January 1, 2018.
Punjab Plywood Manufacturers Association (PPMA) has also announced to increase the prices of finished plywood products by 5 percent from January 1, 2018. The meeting held in Ludhiana, was presided by Mr. Ashok Juneja, Chairman and Mr. Inderjeet Singh Sohal, President, and attended by more than 25 producers. Delhi-NCR Plywood manufacturers Association is also decided to increase the prices due to high input cost due to exaggerating raw material costs.
“The increasing input cost has left us with no other option but to increase the cost of end product. We are forced to pass on the burden to the consumers,” said Mr. Juneja, Chairman of the PPMA. According to another plywood manufacturer, a significant portion of the raw material, such as pine timber, which gives finishing to the plywood, is imported and a minor fluctuation in the dollar also affects the input cost.