The price of pallet timber from the UK/Ireland and the Baltics in the second quarter increased by the highest rate since the Pöyry Index began in 2001.

The June 2010 purchasing managers’ index published by the Chartered Institute of Purchasing and Supply also highlighted significant price rises for pallet timber, which rose for the seventh consecutive month. Pallet prices themselves were up for the fourth month running.

TIMCON responded by saying wood pallet manufacturers were being forced to increase product prices in what were “extremely challenging times for the industry”.

It said it was working closely with members to ensure continuity of supply to customers.

For more on this story see the fencing and pallet market report in the next issue of TTJ.