A worker arranges sheets of veneer at a plywood manufacturing workshop in Muzaffarpur, Bihar. (Photographer: Prashanth Vishwanathan/Bloomberg)  

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: