Friday, 13 Mar 2020 11:14 GMT

Oil prices blamed for ink price increase

Increases in oil prices in the Middle East has had a “cascading effect” on the price of solvent raw materials used in ink and coatings manufacturer, says Flint Group Packaging Inks.

As a result, the India-based firm has announced that due to “instability”, it has had to increase the price of its own inks and coatings with immediate effect.

Upal Roy, managing director of Flint Group India, says: “We understand that price increases have become an almost ‘routine’ matter. However, we hope that our customers will understand and appreciate that we have no choice but to pass along the increase and that Flint Group cannot continue to absorb the entirety of these rising costs.”

...the price increase will apply as long as oil prices remain “well above reasonable and standard levels”

The firm has said that the price increase will apply as long as oil prices remain “well above reasonable and standard levels”, but has reassured customers that should the prices drop, it will reconsider the price increase and adjust.

Despite the announcement, Roy adds: “We are resolutely committed to efficiency projects that will continue to remove cost and complexity in our own operations. We also remain dedicated to helping our customers to improve their own efficiencies and to support process optimisation within their press rooms.

“Ultimately, product quality and consistency remains a key focus; our customers can always rely on us for best in class products and services at the most economic price possible.”



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