The British Furniture Manufacturers’ (BFM) commodity price tracker has been extended to enable the association's 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.
BFM MD Nick Garratt says: “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.
“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.”