Crude oil price hike plagues plastic makers

Plastic products and engineering parts manufacturers are finding it difficult to procure the raw materials required for production in the wake of a 30-35 per cent hike in prices.

Shiva Polyplast Private Ltd, a company which manufactures and sells household plastic products for both domestic and international markets, is experiencing a sudden drop in sales.

According to local traders and retailers, market demand has dropped by 20-25 per cent compared to around this time last year.

BusinessMonitor