Price of PET plastic bottles up 15%
The price of Polyethlene Terephthalate (PET) plastic bottles went up by some 15 per cent in the past year. That is because the price of PET
resin, an ingredient used to manufacture the bottles, has also gone up 60 per cent in the same period.
PET is used as a raw material in the packaging of consumer goods such as soft drinks, cooking oil and pharmaceutical products.
Manufacturers said one component of PET resins is crude oil, which has also gone up in price recently.
Separately, PET resins is also used to make synthetic fibre, which has become a sought-after alternative to cotton, due to rise in the price of cotton.
Some F&B companies said they are feeling the effects but do not intend to transfer the higher costs to customers just yet.
Some are even thinking of setting up their own bottle manufacturing facility to counter the rising costs.
Source : www.channelnewsasia.com