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Fall in Rupee lead to hike in stationery price
The fall in the price of the rupee in the international market has hit the Punjab industry hard – especially the plywood and printing industry which are based on import of raw material. After a hike in the prices of paper, prices of the end products in the market, like stationery, will be hiked by 5%. This was announced by the Offset Printer Association (OPA).
Kamal Sharma, the general secretary, said, “The leading paper manufacturers have hiked the prices of paper and hence the end products will cost more.” The rupee depreciation has been to the tune of 10% over the past two weeks. Nitin Sharma, PRO of the association, however, said, ”Mills need to be patient at the moment because rupee versus dollar price has not stabilized at the moment. Once it starts to float in a certain range then price should be increased because if the dollar price decreased from this point, the millers will never reduce the prices of paper.
Ashok Juneja, president of Punjab Plywood Manufacturers Association said, “With the fall in rupee, the prices f chemical such as formaline and phenyl have increased. The other factors are power tariff hike and labor shortage. So our state body will be meeting next week to decide about the hike in prices of plywood.”