Bengaluru, Oct. 22 -- Consumer goods companies are weighing another round of price increases, using less material, and reducing grammage as plastic steadily gets dearer amid US-Iran tensions, on top of the hikes they have already taken this year.

The price of plastic raw material has jumped 15-20% in just the last two to three weeks and now stands about 60% above pre-war levels, said Thimmaiah Napanda, managing director and chief executive of Alternicq Ltd (formerly Manjushree Technopak Ltd), India's largest maker of rigid plastic packaging. He estimates that packaging costs for brands have climbed 30-40%.

The rise hits the plastics used in most bottles, containers and caps for food, drinks, personal care and household products.

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