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View all search resultsRising plastic prices pressure bottled water industry
The bottled water industry estimates that raw material prices could rise as much as 100 percent and effect a 25-50 percent rise in packaging costs, inevitably leading to a price hike for consumers.
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Empty gallon-size bottles are arranged in rows outside an outlet offering refilling services in BSD City, South Tangerang, Banten, in this undated file photo. (JP/R. Berto Wedhatama)
A
s global energy prices rise, driven by geopolitical tensions in the Middle East, pressure is also increasing on the domestic bottled water industry, the Nusantara Bottled Water Companies Association (Amdatara) has warned.
“We express serious concern over the increasing pressure on the [bottled water] industry due to the price surge in raw materials for packaging, particularly petroleum-based plastics,” Amdatara chairman Karyanto Wibowo said in a statement on Monday, as quoted by Kompas.com.
Karyanto added that that the industry was facing a structural shock rather than ordinary market fluctuations.
Industry players say the surge in prices for petroleum-based plastics threatens to ripple through production chains and ultimately hit consumers’ wallets.
Global oil prices edged higher on April 6 after United States President Donald Trump reiterated his threat to destroy Iran’s civilian infrastructure if Tehran did not reopen the Strait of Hormuz.
The next day, however, just hours before his latest deadline of 8 p.m., Washington time, he agreed to suspend attacks for two weeks in exchange for Iran reopening the strategic waterway.
The May contract for West Texas Intermediate (WTI) rose 0.78 percent on Monday to US$112.41 per barrel, while the world benchmark Brent crude closed slightly higher at $109.77 per barrel.
