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Soaring raw material costs lead to significant price increases - UK plastic processors

February 21/2011

(Food Productiondaily) -- UK plastic processors have warned that soaring raw material costs will lead to significant price increases for the their products, while a leading packaging body said higher costs will inevitably be passed down the supply chain.

The British Plastics Federation (BPF) served clear notice yesterday that increases of up to 80 per cent for some plastics over the last two years would mean that sectors such as packaging should expect to be hit by further price rises this year.

''Some grades of polyethylene and polypropylene have increased by 70 per cent and 80 per cent respectively since January 2009,Ф said BPF director-general Peter Davis.

He added that in the last 12 months alone polypropylene registered a 40 per cent increase, while polystyrene prices had almost doubled since January 2009.

Dick Searle chief executive of The Packaging Federation, in the UK, said packaging manufacturers have been faced with unprecedented raw material costs across the industry. Searle indicated that faced with such raw material hikes packaging producers would also have no option but to pass such cost increases on in order to stay in business.

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