Iran war promises green edge for Asia as plastic packaging runs short [Yahoo! Finance Canada]
MITSUBISHI CH GRP U/ADR (MTLHY)
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Source: Yahoo! Finance Canada
Yonwoo, a South Korean maker of packaging for cosmetics, has reaped unexpected benefit from the Iran war, which has disrupted supplies of the plastic needed to turn out ?single-use wrapping. While the conflict has sent prices of plastic soaring to roughly four-year highs by choking off flows of the required raw materials of oil ?and petrochemicals, the company says it has fuelled inquiries three-fold for paper-based options. "Interest initially came from companies focused on sustainability ... but if the plastics issue gets prolonged we expect demand to further increase," said Kim Min-sang, ?a senior manager at parent Kolmar Korea. The supplier to major firms, such as France's L'Oreal, has fielded inquiries mainly for paper tubes encasing items such as sunscreen and lotions that use just 20% of the plastic employed by conventional packaging, Kim told Reuters. Across Asia, home to some of the world's biggest plastic users and polluters, changes that environmental groups have so
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