The UK’s Flexible Packaging Association has distributed a warning about the “dire situation within the flexible packaging market caused by the enormous base material price increases stemming from the situation in crude oil supplies”.
FPA director Martin Unwin warns: “The market has tried to delay the impact but this is now impossible. We have already seen increases of 40 per cent in base resin prices. The ratchet effect on film prices, particularly OPP, OPA, PET and PE, is already evident. In addition, we are faced with significant increases in the cost of solvent, ink, transport and utilities. Our members cannot absorb cost increases of this magnitude”.
He says the effects are shown in the continued poor results from the overall flexible packaging industry, as represented in the FPA surveys.
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