Business
Soaring timber prices put pressure on Bunnings, but thrill Reddit investors – Sydney Morning Herald
A fourfold surge in the price of fresh lumber has put pressure on timber prices at Bunnings and caught the attention of Reddit investors and internet jokesters.
Australia, which usually mills much of its timber from local plantations, has also had its production stunted by bushfires, meaning builders have had to rely on what limited imports they can get their hands on.
Mr Scott did not go into detail regarding the quantum of the price increases Bunnings was witnessing but noted the pain was being felt across the market. Wesfarmers is also seeing similar price hikes in international shipping costs and some other raw materials, such as cotton.
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