Food packaging evaluation from plastics – Bloomberg HT

Yavuz Eroğlu, President of Turkish Plastics Industrialists Research and Development Foundation (PAGEV), made evaluations about packaging costs.

Eroğlu said, “There is an unclaimed price increase here, unfortunately. There is a price increase in food products, and those who sell packaged food products say that we are not the reason for the price increase here, it is the increase in packaging. This information is not correct for the year 2022. “The data and numbers available do not confirm this,” he said.

Eroğlu said, “As of the second half of 2020, petrochemical manufacturers in petrochemical products, which are the raw materials of plastic, have reduced the supply and increased the raw material prices up to 150 percent in dollar terms. At that time, in 2021, this 150 percent increase in raw materials caused an increase in packaging as well. Packaging prices of packaged food manufacturers increased for 2021, their reproaches were correct. As a matter of fact, we have made very serious efforts to reduce the prices of these raw materials. In 2022, these costs decreased for two reasons. First, in 2022, commodity prices began to decline all over the world, with price reductions in dollar terms. In addition, there were cost increases due to logistics, and logistics prices fell by almost 40-50 percent last year. Therefore, when we look at the 2022 packaging prices, we see a decrease in foreign exchange, let alone an increase. Depending on the increase in foreign currency, there may have been some increase in TL; However, there has not been a very high increase in foreign currency in the last year,” he said.

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