Association of Furniture and Woodworking Enterprises of Russia registers a reduction in prices for Russian furniture

The Association of Furniture and Woodworking Enterprises of Russia informs there was a decline in producer and retail prices for furniture in May 2022 due to the crisis of overproduction in the Russian market of wood-based panels. According to the Association, furniture prices almost returned to the level of early 2022 already by the end of June.

According to WhatWood’s estimates, the output of particleboard, the main raw material for producing furniture in Russia, decreased to 467,000 m³ in June 2022 (-5% MoM; -33% YoY). Such a low monthly output indicator was previously recorded only in the first months of the coronavirus restrictions in April-May 2020.

Judging from the data of WhatWood, retail prices for monitored particleboards/laminated particleboards decreased by an average of 10% MoM in July. Demand in the laminated particleboard market can also be defined as “cooled down”, which leads to a corresponding reduction in prices from producers. It can also be noted here that the market of exclusive decorative items features modest supply.