Rising prices of major types of plastic resins, both local and imported, have had an adverse effect on plastics processors in Malaysia.
In a statement last week, the Malaysian Plastics Manufacturers Association (MPMA) said the average price of certain grades of resins was higher by about 20% this month compared to the average price a year ago.
Resins form a major portion of the manufacturing cost for processors of plastic products, ranging from 50-70%. Runaway prices have impacted the operations of the plastic manufacturers, who have adopted various cost-saving measures to absorb the impact of the rising cost. However, the adverse impact has left them with no option, but to pass part of the rising cost to intermediate users and retailers.
In a statement last week, the Malaysian Plastics Manufacturers Association (MPMA) said the average price of certain grades of resins was higher by about 20% this month compared to the average price a year ago.
Resins form a major portion of the manufacturing cost for processors of plastic products, ranging from 50-70%. Runaway prices have impacted the operations of the plastic manufacturers, who have adopted various cost-saving measures to absorb the impact of the rising cost. However, the adverse impact has left them with no option, but to pass part of the rising cost to intermediate users and retailers.
