Canned food is set to get costlier as the price of steel and tin plates used for packaging it sees a price rise. The material cost has risen on account of high input costs of steel and tin.
Sanjay Bhatia, chairman, Indian Institute of Packaging, and president, Metal Container Manufacturer Association of India, told FE: ?There has been a rise in steel prices globally. This trend has impacted the Indian steel market. September onwards , steel prices are expected to rise even further.
As steel prices and tin plate prices are high and are expected to go up, it will lead to increase in the prices of packaged food like in 2008.? Some leading packaging companies like Shetron, Kaira, Hindustan Tin, which manufacture tin plate cans are in talks with the steel ministry to address the issue.
A representative of Hindustan Tin, says: ?Rise in the prices of packaged canned foods will influence customers to think of other options.?
Metal Bulletin Research, the world]s leading provider of independent analysis and forecasts for the global metals and mining industry, says tin plate prices are likely to strengthen.
It adds that the glbal tin plate prices have started to move upwards. This is a result of cost push-effect of higher costs of raw material.
