Iran conflict raises India’s plastic costs by nearly 40%

Thimmiah Napanda, Managing Director & CEO, Alternicq, highlighted that the Iran conflict led to a sharp increase in crude-linked resin prices, with PET and polypropylene costs rising by nearly 40%. Despite the volatility, Alternicq leveraged strong relationships with domestic refiners to ensure supply continuity and minimise disruptions. The company worked closely with customers to manage the impact through calibrated price pass-throughs. Napanda noted that raw material prices could normalise within four to six months, subject to easing geopolitical tensions and stabilisation of global supply chains.

Iran conflict pushes India plastic costs up about 40%