Several paper companies have recently announced steep price hikes. Coast Paper, Buntin Reid and Asia Pulp & Paper have all raised prices for Canadians buying their products, citing the foundering Canadian dollar as the catalyst, along with the high prices of pulp and freight.
Buntin Reid is hiking its Canadian prices for U.S. based products by 10% to 30% on Nov. 10, and Coast Paper is raising prices between 7% and 20% the same day. Asia Pulp & Paper says that because most of its business is conducted in U.S. dollars and the value of the Canadian dollar has declined 24% against the U.S. dollar, its costs are rising. It raised prices on Nov. 3 by 10% to reduce losses, and says if the dollar remains the same or drops further, another hike is coming in December.
- Papermakers signal new output cuts as woes continue [The Guardian]