An Authentic and Certified Index to Gauge Cost Fluctuations for Corrugated Boxes

India's 1st Cost Index for Corrugated Boxes

World economy is truly living in a volatile environment… a world of inflation, deflation, rapidly fluctuating commodity prices, political instability, gaps between demand and supply, to name a few.

The paper industry is no exception, especially the corrugated boxes sector.

Taking a cue from the successful, BSE, SENSEX, WICMA in association with CRISIL Research, India's largest independent and integrated research house, has evolved CoDex. CoDex is India’s first cost index for corrugated boxes to track the cost movement after testing the key price point parameters extensively and intensively with independent third parties.

How CoDex is developed

CoDex is the abbreviation for cost index.

It tracks cost movement across the entire spectrum of the manufacturing process that include costs of paper, adhesives, printing, stitching, energy, transport, labour, interest and establishment costs and overheads, In essence, CoDex covers the total cost of corrugated boxes.

CRISIL Research does a cost mapping with very reputed, thoroughly researched and appointed independent parties involved with the corrugated box industry to get a very impartial analysis of cost variations.

Taking January 2010 as base of 100, CRISIL, then plots the cost fluctuations on a quarterly basis and publishes the report on its letterhead and sends it to WICMA.

One can view the background of CoDex values, trends in CoDex values and framework provided and owned by WICMA for developing CoDex on

CoDex Values

Report Period

CoDex Value

12th March 2015 (Present Report) 138.02
12th December 2014 140.70
12th September 2014 145.16
12th June 2014 144.73
12th March 2014 142.10
12th December 2013 141.25
12th September 2013 143.47
12th June 2013 137.34
12th March 2013 135.54
12th December 2012 132.15
12th September 2012 133.01
12th June 2012 131.90
12th March 2012 126.26
12th December 2011 127.55
12th September 2011 129.76
12th June 2011 122.99
12th March 2011 127.81
22nd January 2011 122.98
22nd January 2010 (Base) 100.00

How CoDex will help you

CoDex is developed, analysed, authenticated and published by India's largest independent and integrated research house. So, CoDex can be used as documentary evidence of cost movement, both by manufacturers of corrugated boxes as wells as end users of corrugated boxes. This valuable tool acts as harbinger when it comes to price revisions and price negotiations.