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Paper prices rise by up to 20%
The price of paper will increase from today due to change in the VND/US$ exchange rate, the Ministry of Industry and Trade has said.
The price of newsprint, printer paper and writing paper will rise by between 4 and 21 per cent. Newsprint now costs VND14.38 million per tonne and printer and writing paper costs VND16.8-17.6 million per tonne.
Tan Mai Paper Joint Stock Company chose to increase its prices ahead of schedule, on June 28. Its printer and writing paper products are now VND17.6 million per tonne, imported Indonesian paper is VND20.08 million per tonne and Thai paper is VND19.7 million per tonne.
Following Tan Mai’s lead, other domestic paper producers will raise their prices by VND0.6-1 million per tonne, the Viet Nam Paper Corporation said.
Upward pressure on prices is mainly caused by the difference between the VND/US$ exchange rate at banks and on the black-market, the corporation said.
The fluctuating exchange rate has eroded the profits of paper companies importing finished products and raw materials, leading many of them to stockpile products rather than sell them right now.
The Government’s tightened monetary policy has also meant fewer dollars are available for importing paper products.
VNN
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