Plans to produce more

SLP Resources Bhd workers at the production line of plastic packaging products and plastics-related goods at the plant.

DESPITE tumbling polyethylene resin (PE) prices, the local food and beverage industry in the country is consuming less plastic packaging materials, as buyers are waiting for resin prices to drop even lower.

Kelvin Khaw, managing director of Penang-based SLP Resources Bhd, said the selling price of PE had dropped to about US$1,350 (RM4,718) to US$1,400 per tonne presently, from US$1,600 per tonne early this year.