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PRESS RELEASE January 6 th , 2017 Sector surveys show impact of raw material price ri se on wooden pallets and packaging The increasing cost of inputs, especially nails and wood, is causing a rise in the price of pallets and packaging, according to two re cent surveys of the UK market.

The monthly Markit/CIPS report, released at the beg inning of January 2017, indicates that the price of nails rose for the seve nth consecutive month; pallet timber increased for the fifth consecutive month; w hile other timber/wood categories are also showing ongoing monthly increas es. The report shows that the prices of both new and used pallets have now increa sed.

The recently published Quarter 4 P ő yry Packaging and Pallet Timber Index confirms the movements in price of both home grown and Baltic timber. Home grown has risen for the third consecutive quarter a nd Baltic and for the second consecutive quarter (Q3 up 8 per cent; Q4 up 3 per cent).

Stuart Hex, general secretary of the Timber Packagi ng and Pallet Confederation (TIMCON), said: “The cost of imported raw materials for pallets and packaging is rising. As there is no nail manufacturing in the UK , members source these products from Europe, and following the Brexit vote the fall in the value of the pound has had an impact. There has been similar inflation on imported timber - notably in quarter 3 - while the price of home-grown timber is also rising in line with the market for timber for competing products.

“As nails and timber account for at least 70 per ce nt of the cost of manufacturing timber pallets, these rises are unavoidably going t o have to be passed on to the price of the finished products. We are confident th at pallet users will work together with our members to absorb these increases.

“Wood remains by far the most economic material for pallets and transit packaging - not to mention the most re-useable, repairable, r ecyclable and all round most environmentally sustainable option.”

Source:Redcomm for TIMCon

Jan 2017

 

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