WPC/PVC board prices are expected to rise up by 10 percent with immediate effect due to high prices of PVC resin since last one and half month. Reports confirm, PVC resin, the main raw material for making WPC/PVC boards, has been getting costly by atleast Rs 26 per kg for the last 4 months after lockdown, which has immensely impacted the input cost of WPC/PVC boards. The report also suggests an upward trend in PVC resin prices after second half of May, which has been increasing gradually. This has resulted in more than Rs 20 per kg rise till 31st August, which is an almost 30 percent jump reported in PVC resin prices in the last 4 months.
Reliance is a major producer of PVC resins in India, besides we also import from Taiwan, Japan and Africa. The production of PVC resins has disrupted all over world due to Covid-19 pandemic, which resulted in Reliance receiving very good orders from overseas market as well. The disruption of domestic as well as international supplies is said to be main reason for the price increase of PVC resins.
Domestic WPC/PVC board producers are forced to increase their prices with immediate effect from 7 to 10 percent varying from company to company. Producers estimate that the price of PVC resin will increase further because of the disturbance in manufacturing. We may increase prices further depend upon the raw material costs, some companies revealed.
Mr. Vinay Agarwal, Director, Floresta WPC boards said The Ply Reporter that the big jump in PVC resins prices was unfortunate, they were forced to increase the prices with immediate effect. He expects 10 % increase in prices because other input costs have also notably increased in the Covid period. Mr. Naren Thakkar, Director, Fixoboards says that industry is not in a position to manage such a huge rise in raw material prices, hence we are compelled to increase the prices of WPC/PVC boards. He feels that PVC resins prices will further go up, and it may settle in October.