Venezuela. The price of coatings and paints marketed in the Bolivarian Republic of Venezuela registered an increase of 28.9% between July 2010 and July 2011. This is demonstrated by the latest report "Construction Price Index", published by the Central Bank of Venezuela, BCV.
According to the report, the cost of paints increased by 16.3% for wholesalers, reflecting the situation of imports and the volatile behavior of raw material prices.
Meanwhile, the situation for paint producers was more dramatic. In the period between July 2010 and July 2011 the price of products increased by up to 28.9%, indicating that local manufacturers are assuming a cost margin that implies 12.6% less revenue, on average.
The situation is not very different in the rest of the coatings (except decorative paints), used for ceilings, floors and walls that, according to the BCV report, had variations in their price that surrounded 14.6%.
INPRA LATINA consulted the associations linked to the paints and coatings sector, related to the paint industry, but all claimed not to have precise information to explain the unusual increases.
