Plastic price forces Nestle to increase water price

Food manufacturer Nestle has been forced to increase the price of bottles of water in the United States due to the high price of plastic bottles. The company put up the price of a bottle of water by 10 per cent as the cost of plastic used to make the bottles had risen by more than 40 per cent since October 2010. The company has also announced plans to build a $30 million PET recycling plant in the United States that will produce 1,800 tonnes of recycled PET. This represents 10 per cent of the company’s needs in America.