Paper Imports up 44.9 per cent on High Prices in First Half
Vietnam reportedly spent US$403 million to import 509,000 tons of paper in the first half of 2008, up 44.9 per cent on year in value and 29.6 per cent in volume, the General Statistics Office said.
Local companies said high import value was attributed by the increased import prices, which have pulled up paper prices on domestic market during the past months.
The Ministry of Industry and Trade said paper prices will continue rising from July 1 due to change in the VND/USD exchange rate.
The price of newsprint, printer paper and writing paper will rise by between 4 per cent and 21 per centt. Newsprint now costs VND14.38 million per ton and printer and writing paper costs VND16.8 million-VND17.6 million per ton.
Tan Mai Paper Joint Stock Company increased its prices ahead of schedule, from June 28. Its printer and writing paper products are now VND17.6 million per ton, Indonesian paper is VND20.08 million per ton and Thai paper is VND19.7 million per ton.
Following Tan Mai&rsquos lead, other domestic paper producers will raise their prices by VND600,000-VND1 million per ton, the Vietnam Paper 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. (GSO June Edition, VNS)
Vietnamese
