The British Furniture Manufacturers’ commodity price tracker has been extended to enable members to gain further insight into the cost of goods.
Widely used across the furniture manufacturing sector, the tracker of input costs will now include information on duck feathers from China.
Launched 10 years ago, the commodity tracker has gone from strength-to-strength among BFM members, who rely on the service to gain an indication of trends where comparisons can be made.
From information on the price of birch logs in Estonia compared to Finland and much more, the service provides detailed information that supports members’ business operations, with all data presented in a clear, graphic format to allow price movements to be reviewed easily.
Nick Garratt, managing director of BFM, said: “Raw material price increases put members margins under real pressure.
“Our members consistently report that the commodity price tracker provides them with a high value service, that can be relied upon to make informed decisions.
“The addition of duck feathers from China further enhances the market intelligence available.
“Following a prolonged period of increases, this year many BFM upholstery companies have gained significant reductions in the cost of foam as the BFM data showed chemical prices falling downwards.
“This has helped members to mitigate some of the increases seen in recent years.
“As the voice of our industry, providing effective representation and a range of appropriate services that embrace the needs and add value, the tracker is an important benefit available exclusively for our members.
“The items tracked are relevant to a wide range of furniture sectors, including energy and fuel, fibres, foam chemicals, iron and steel and leather.
“Logs, packaging, timber and wood, veneer and composites, as well as wire and springs, are also included.”