Prices up, demand down in furniture markets
The prices of different types of goods used for making furniture for offices and homes have increased by 25 to 30 per cent in the market over the last six months.
The hike in the prices of items such as timber and special type of fabrics used in sofas has, in turn, pushed up the prices of all types of furniture in the market.
The price of a yard of fabric has increased by Tk 100 while that of different types of timber by 50 per cent, said a furniture trader of city's Panthapath area.
However, one furniture trader claimed that because of a bearish market, the furniture manufacturers could not to shift the burden of the raw material price hike on to the customers.
"We have been passing through a critical time in furniture business over the last three to five months. There is no business now. We have offered 10 per cent discount on all of our items but it has not been able to draw more customers," said an employee of Otobi, a leading furniture manufacturer.
"The hike in the price of materials used in manufacturing furnitures in market and our inability to shift the burden of increased cost on to customers due to market conditions has affected our profitability," said another trader.
But the claims made by the traders on prices were found to be not in conformity with the real market situation. The prices of most home and office furniture have recorded a rise in recent months.
Now a unit of dressing table is being sold between Tk 2,500 and Tk 5,500 when box cot between Tk 2,500 and Tk 8,000.
A medium size almirah is being sold between Tk 10,000 and Tk 15,000. The price of the same was between Tk 8,000 and 13,000 three to four moths ago.
A unit of secretariat table is being sold between Tk 3,000 and Tk 5,000 a wardrobe at Tk 2,500-Tk 6,000.
Showcase prices range between Tk 4,000 and Tk 6,000 when the price of different types of mattress range between TK 2,000 and Tk 4,000. The prices of these items have increased by about 20 per cent to 30 per cent in the retail market.
A set of leather sofa is being sold at Tk 20,000, which was Tk 17,500 to Tk 18,000 three months ago.
A piece of ring table is between Tk 1,300 and 2,500 when the prices of conference table ranges between Tk 6,000 and 15,000 in the retail market.
A unit of tea table is between Tk 1,000 and Tk 3,000 when a small unit of kitchen cabinet is between Tk 4,000 and Tk. 12,000 showing a price hike of 20 per cent over the last three months.