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You may have heard from your local recycling center that PET Bottle Scrap prices are rising. Well, what's going on? Are the PET Bottle Scrap prices in India are rising? Are recycling centers making more money off the bottles? What's the story here?
Well, I'm going to tell you! Or at least give you some insight into how this works and what's happening with PET Bottle Scrap prices in India today. It's always worth your time to check current rates before selling your PET Bottles to ensure you get the best price possible.
PET Bottle Scrap Price in India Today
While I write this article, PET Bottle Scrap in India are trading at,
PET Bottle Scrap Price (Gujarat): Rs.41/KG
PET Bottles Baled Price (South India): Rs.23/KG
PET Bottles Price (South India): Rs.26/KG
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Market Price Graph of PET Bottle Scrap – Gujarat (Past 6 Months)
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Current PET Bottle Scrap Price in India
India is one of the largest producers and consumers of PET Bottle Scrap. Presently, the PET Bottle Scrap price in India has been surging because of the massive demand for PET Bottle Scrap in PET recycling companies to produce new PET bottles and other plastic products.
Is PET Bottle Scrap Prices Are in the Rise in India?
At the time of the COVID pandemic, PET Bottle Scrap prices were trading at Rs.30 to Rs.20/kg. After easing covid restrictions and resuming economic activities to help the pandemic hit the economy to recover, the demand surged unexpectedly, and the PET Bottle Scrap prices also skyrocketed to all-time highs. Since then, PET Bottle Scrap prices in India have been at all-time highs ranging between Rs.40 to Rs.55/KG.
On the other hand, because of the highly recyclable nature of PET Bottle Scrap and its usage in the Beverage Industry, Food Packaging Companies and Mineral Water Packaging Companies make PET Bottle Scrap worth money. So, the high demand for PET Bottle Scrap is the main reason PET Bottle Scrap prices in India stay at all-time highs.
The higher PET Bottle Scrap price reflects how much these recycled materials are worth if sold back to manufacturers and recycling units who will turn them into new valuable Plastic products. As the demand and supply have tightened in India, the pricing for PET Bottle Scrap has also increased to new highs.
Current PET Bottle Scrap Prices Worldwide
In May, PET beverage bottle and jar prices reached a recent high of almost 40 cents per pound before tumbling for several months, according to RecyclingMarkets.net data published by Resource Recycling.
July prices fell 30% month-over-month from June. The price dropped 61% month-over-month in August to about 10.3 cents per pound. Although current prices show a slight rise to about 8.5 cents, that's still far below the 22.8 cents per pound from a year ago (Source - Resource Recycling)
In May, PET Bottle Scrap prices in India were trading at Rs.52/KG, but due to slower economic activity, they fell 21.15% and are now fluctuating between Rs.41 and Rs.40/KG.
PET Bottle Scrap pricing is almost astronomically high. Recent commodity market anomalies such as recession fears, global inflation, higher oil prices, and higher energy prices cause PET Bottle Scrap prices to fluctuate.
The Federal Reserve's considerable interest rate increases over the last six months to tame inflation likewise affected purchasing and demand for PET Bottle Scrap, influencing lower prices.
According to the International Monetary Fund, global economic activity is "slowing more broadly and sharply than expected." Similarly, the World Trade Organization revised its outlook this month, projecting significant global trade growth slow next year.
ISRI highlights the most recent Producer Price Index numbers for the recycling industry that show all commodities were down in September except plastics, which was 11.3% higher than in September 2021.
"All recyclable commodities are having a lull right now," Bret Biggers, senior economist at the Institute of Scrap Recycling Industries, said. "Over the next six to eight months, it's going to be difficult for recycled commodities, including PET." (Source - Resource Recycling)
Where to Sell or Buy Plastic Scraps In India At the Best Prices
Do you have large tons of PET Bottle Scrap with you and looking for a genuine buyer to sell at market-leading prices? If you answered yes, you have landed on the right platform; you can sell or buy any tons of PET Bottle Scrap through our B2B scrap portal RecyleInMe.
RecyleInMe is an online scrap marketplace dealing with 100 plus scrap and recyclables. At RecyleInMe, you can find PET Bottle Scrap, PET Bottle Scrap prices, PET Bottle Scrap suppliers, PET Bottle Scrap buyers, PET Bottle Scrap offers to buy and sell, and other various categories of scrap. Register now and start receiving business leads.
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