00:03Food brands are struggling to contain a crisis.
00:07If we haven't got a container to give it to a consumer,
00:10there's little point in actually making the milk.
00:12Norco is paying more for resin to make plastic milk bottles
00:16as the Iran war is hitting supply.
00:19We estimate the cost of hyperinflation just on diesel and plastics
00:24in our business to be about $1.6 million per month.
00:28They've already raised prices by 10 to 20 cents.
00:32Nestle, which also needs resin to make chocolate wrappers,
00:36is also warning of higher costs.
00:39Cosmetics could go up too as factories like this
00:42charge more for squeezy tubes.
00:45I expect to see prices continue to climb
00:47while the war in the Middle East continues to rage on.
00:50Coles and Woolworths have increased the price of home brand milk,
00:54both acknowledging rising costs.
00:56If supply doesn't miraculously start flowing,
00:59then there is a likelihood that we will run out of certain raw materials.
01:04This plastics issue is raising even more questions
01:06about Australia's ability to protect itself from supply chain shocks
01:10with most resins imported.
01:12The Federal Government could help secure supply from overseas refineries
01:17as it's already done on diesel.
01:18So there's no doubt that there are some plastics manufacturers,
01:22food manufacturers, medical supplies manufacturers
01:25that are experiencing issues right now
01:28when it comes to supply and price of plastic.
01:30Norco's boss says they've got supply to September.
01:33I don't see too much hope in the next three to four months
01:37of different pricing on resins.
01:39But after that, let's hope that we do have some form of normality.
01:44A message bottled for the world's leaders to hear.
01:47A message to the audience.
01:47A message to the audience.
01:48A message to the audience.
01:48A message to the audience.
01:49A message to the audience.
01:50A message to the audience.
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