Brace for increase in lumber, plywood prices
At least one local distributor in the construction industry is warning residents to brace for an increase in lumber and construction plywood prices.
CTL Home Center said the price increases will be as a result of the global COVID-19 pandemic which is affecting its suppliers in the US, Latin America, and the Caribbean.
“I believe that it is my civic duty to inform our valued customers about this unfortunate increase in lumber prices caused by the COVID-19 pandemic that will result in increased construction cost for our home builders” CTL’s Managing Director Michael Thomas said in a news release.
CTL Home Centre said it also received information from the US National Association of Home Builders that because of “insufficient domestic production and tariffs on Canadian sources, the price of lumber has staged a staggering increase in recent months, rising roughly 80% since mid-April to an average price above $600 per thousand board feet”.
Thomas also said the cost-increase for construction plywood is being fuelled by production decreases in South America, due to the partial opening or complete shutdown of mills.
He added that “the industry is indicating that prices are going to drop but it is not expected to return to pre-COVID-19 levels anytime soon”.
CTL Home Center is reassuring customers its prices will remain the same until it is time to replenish inventory. Thereafter, customers may see increases in the prices of lumber and plywood.
The company said it will do all it can to make lumber prices as affordable as possible for BVI residents.
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again it when up after irma and now in this pandemic , then again this the bvi anythings goes and everybody do what they plz
I find your comment disingenuous and without factual evidence to explain your statement.
Are you in business? Do you have to import anything to run it.
For your information, No they didn’t.
CTL’s pricing only rises according to the shift in market value and market pricing, add in cost of shipping and all the other cost added just to bring a product to the BVI.
I run a small business and the cost of shipping products to international countries is almost not worth the hassle. Then add in duty when it arrives.
If you are going to compare prices, you have to compare prices on like products. Stop making generalizations and blanket statements.
Stop bashing for bashing sake.
Where there are no consumer protective laws, restrictive gouging laws and other price monitoring regulations in place and enforced, a country gets what this BVI and other jurisdictions have been and continue to get, the cost/pricing bull whip.
CTL can do a lot better with their prices. VI Block is more reasonable. even the staff at CTL tell customers VI Block has better prices on certain items.
You are not the right person to represent VI Block because you just made them look bad by taking a cheap shot at CTL and all they were trying to do is alert the population of the price increase. People who understand business, will welcome the heads up from them
James, I take umbrage with your comment for several reasons.
1. The PSA above by Mr. Thomas was simply an annocument that world wide prices on this product is going up because of scarcity. Follow the laws of supply and demand to understand this dynamic.
In fact it is my opinion that other business owners on this island need to look at their market trends and see where the scarcities are arising due to restrictions brought about by this pandemic and how that will affect supply to the territory in the long run and how that scarcity will affect prices and what this will mean to the ultimate customer.
2. The Employees of CTL who are sending customers to the competition should be fired. Yes, I just said that. They are disloyal. These are the same people who will want a pay rise and grumble about why they should get one.
Why? Because they feel entitled to one?
How are they helping their organization to grow? How have they demonstrated their worth?
If the organization does not grow, openly operates in the red due to their undermining of it, how will they get paid?
Do these people understand the correlation between their actions and the growth and development of the organization that employs them?
If they lose their jobs because the organization can not afford to pay them and in order to meet its creditors bills it has to downsize its work force first, Where does that leave them in this current crises or just in general? That’s right without a job! No job, no money, no money, unpaid bills, destitution. So really who are they undermining?
An organization’s workforce is its biggest expense next to its creditors.
3. Don’t get confused, people can and will shop wherever they like and they should continue to exercise the beauty of that choice. However when doing so and price comparing, compare product for product, not one product and another that just seems like it’s the same. Tennis ball for tennis ball, not tennis ball for golf ball because they are both balls.
4. If you or any other person believes that a lie has been told to you, google it and fact check it. The information is out there, its free. Don’t be ignorant, do the research and keep abreast of the current circumstances that affect you.
Thr quality of their products have dropped. CTL started off boasting strong durable items, but now they are selling cheap stuff.
Please tell me what products you talking about??? I find products for all customers low end and high end?? Confused please say what items you talking about
Tell me what you talking about. They have for everyone low and high end… explain