Prices for the most common type of recycled plastic have doubled in a year to hit fresh records as companies vie for limited supplies, threatening ambitious targets set out by drinks and consumer goods groups.
The cost of flakes of post-consumer polyethylene terephthalate (PET) in Europe have shot up 103 per cent to €1,690 a tonne since January 2021, according to data group ICIS, after household goods, food, drinks and garment makers adopted fresh recycled plastic usage targets.
Prices for bales of used bottles, which are used to make the flakes, have risen even faster, more than tripling since January 2021. US prices for recycled plastic have also soared, ICIS added.
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