Greenply Doesn’t Expect Further Price Cuts In Fibreboard Business
Greenply Industries Ltd. expects the prices of medium-density fibreboard to remain stable after falling by an average 7 percent this year.
“The prices should remain stable in the second half of the year because nobody is really making a reasonable margin,” Chief Executive Officer Vishwanathan Venkatramani said in an interview to BloombergQuint. India’s second largest plywood maker by market value targets a 12 percent volume growth this year, he said, but realisations may fall.
“The pricing pressure so far this year was due to over-capacity of around 7.5 lakh cubic metres in the country, including imports of around 2.5 lakh cubic metres,” said Venkatramani.
Watch the full interaction here: