Price hike for Toyo’s offset inks

Similar to the pulp and paper industry, the ink industry has been witnessing major price hikes lately due to the supply chain constraints created by the pandemic. The latest price hike comes from Toyo Ink India, effective 1 June 2021.

In a letter to the company’s stakeholders, suppliers and customers, Inderjit Singh, general manager at Toyo Ink India, stated that prices for offset inks have been “revised”. “Several market factors are further leading to price increase. There is again considerable price increase in the entire major sheetfed offset ink raw material,” he wrote.

Prices of pan oil, vegetable oil, phenolic resin and pigment have seen a price increase between 20-40 % in the last month. “On the above, there is force majeure by raw material suppliers,” Singh remarked.

“We have tried to maintain our current pricing as long as possible, but we cannot continue to do so,” Singh said, adding that the company would increase prices of sheetfed offset process inks to Rs 25/kg.

“The exact increase varies between products and segments, but on average, there will be a price increase of Rs 25/kg across all the process ink series,” Singh mentioned in the letter.