Punjab Plywood Manufacturers Association (PPMA) has announced the price rise by 8% on plywood and related products. The price rise has been done in two phases: a 5% rise with immediate effect, and a subsequent 3% rise that will be effective from April 15, 2023.
Also, in terms of defaulting credit, it has been resolved that all supplies must be executed on advance payment.
The decision was taken today (March 28, 2023) at a meeting of the association's office bearers and members held in Ludhiana under the chairmanship of Mr Ashok Kumar Juneja, Chairman, PPMA. On this occasion, Mr Inderjit Singh Sohal, President, PPMA, Mr Naresh Tiwari, Chairman, AIPMA, and other members were also present.
They discussed the critical situations in which the plywood industry finds difficulty to operate. They said the industry is suffering from the non-availability of wood, day-by-day rising cost of plywood manufacturing due to rising cost of raw materials, labour cost etc. Along with that, withholding and defaults on dealer payments are also increasing.
Further after the discussion, PPMA came to a conclusion and unanimously decided to increase the rate of plywood and allied products to save the plywood industry from closure or losses.
