Price Adjustment Notification from FOMEX GROUP
Dear our valued Partners and Friends,
We – 𝗙𝗢𝗠𝗘𝗫 𝗚𝗿𝗼𝘂𝗽 would first like to express my sincere thanks and appreciation for our business partners and for accompanying us along this journey.
For the last four months, soaring demand for veneer both locally and from other neighboring countries, and prolonged rainy seasons with storms and typhoons have led to a remarkable escalation of 20-25% in raw materials. Logistics also plays a role in such an increase in CFR price as the freight to many countries has to rise dramatically (up to 300-400% in some markets such as Korea, Malaysia,..).
With such fluctuation, FOMEX Group regretfully announces a price increase of at least 7%, depending on different products, Port of Discharge, and Time of shipment.
Our Sales Representatives will update you with new quotations separately.
We hope to have your understanding and look forward to better times ahead and developing our mutual business further.
Thank you and Best Regards!
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