Raw material costs for plastic used in fast-moving consumer goods, paints and personal care products have surged as much as 40 per cent since the start of the Iran war, a top executive at Indian rigid plastic manufacturer Alternicq says, as per Reuters.
Alternicq, India’s largest rigid plastic packaging maker by capacity, counts consumer goods firms Marico and Hindustan Unilever, and Asian Paints among its customers.
Key polymers used for making plastic goods, such as polyethylene terephthalate and polypropylene, are derived from crude. A sustained surge in their prices risks hitting margins of consumer goods and personal care companies.
Costs of both polyethylene terephthalate and polypropylene have risen about 40pc since the beginning of the war, Thimmaiah Napanda, Alternicq’s CEO and managing director, said.
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