After a long wait and hope that things will stabilise and raw material prices will ease up, the biggest plywood manufacturing hub in India, has announced a suggestive price increase by 8%. The manufacturing groups in Haryana have brainstormed and reached to consensus to pass on the core veneer and chemicals cost inputs in form of finished goods price increase with immediate effect in march last week.
Haryana Plywood Manufacturers Association (HPMA) has decided to increase prices of 8 % on all type of plywood, Block Boards and Flush Doors with immediate effect during a meeting of Core Committee held in Yamunanagar on 26th March, 2021.
HPMA member discussed the situation arising due to high prices of wood, Formaldehyde, Face Veneer etc related to input costs and unanimously concluded that in order to ensure survival of the units, the rate increment of finished products is inevitable and cope with the rising working capital requirement due to purchase of all inputs on cash basis, the credit period need to be abolished/ restricted.
Mr J K Bihani, President, HPMA said that there is a high jump noted in input cost due to increase prices of raw materials, hence price increase of finished goods is much needed for survival. HPMA has also decided to sell their finished goods on an advance payment basis or maximum 30 days credit period.