The law will raise the price of plastic products including plastic bottles
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The Chamber of Commerce of the French plastic packaging industry stated that in order to cope with the rise in oil prices, most of the raw material suppliers in the plastic packaging industry had started raising prices on July 1. The price increase was sudden and huge. The price of plastic raw material polyethylene
It is 15% higher, and the prices of polystyrene, polypropylene and polyester have all increased by 10%. For this reason, the Chamber of Commerce decided to increase the price of the plastic packaging business.
The Plastic Packaging Association pointed out that the plastic packaging industry is simply not capable of independently digesting the pressure brought about by the price increase of raw materials, and raw material suppliers have repeatedly raised prices since 2003. Raw material prices will inevitably affect the profitability of packaging companies in the short term, which will put enormous pressure on the reinvestment of companies, and layoffs are also “hard to avoidâ€.
As the price of crude oil soared, the plastics industry, which uses petroleum derived products as its main raw material, has been under tremendous pressure. In order to reduce losses, the price increase of the plastic packaging industry is understandable. This has become another example of soaring oil prices affecting people’s lives.