Paper supplier Spicers Paper announced this week that it will increase prices across all grades by approximately 12 per cent with effect from February 9 2009.
In a statement on Monday, Andrew Preece, general manager Spicers Paper said, “As you are aware, 2008 has been an extremely volatile year in regards to the New Zealand dollar against all other major currencies, in particular the US dollar with which global paper purchases are either directly traded or alternatively benchmarked against. Currency alone has delivered cost increases for raw materials in excess of 35 per cent and, with merchant increases year to date so far unable to keep up with this figure, the subsequent shortfall is simply too large to fully absorb.”Preece said that the company will actively monitor the exchange rate over the Christmas period, and should there be an improvement to existing forex levels, it will review pricing to ensure the most competitive offers are passed on.
He concluded, “Spicers Paper appreciate fully the difficult economic climate we are all currently trading in and will continue to support and lead initiatives to actively promote ink on paper.”
