Flint Group Packaging Inks has announced a price increase in India and South Africa effective 15 October 2021. The company cited rising costs of raw materials and supply chain issues fuelled by the global pandemic were the reasons behind the move.

According to the company, petrochemical derivatives such as resins and solvents, pigments, and freight were said to be the three most volatile areas for the rising costs.

Upal Roy, managing director, Flint Group India and South Africa, said, “The current and unusual set of supply chain conditions are some of the most severe that we have witnessed. Our industry is facing substantial cost and availability headwinds across multiple raw material categories. Resins, solvents and pigments (including titanium dioxide) are particularly problematic, as well as freight and packaging costs.”

A press note shared with PrintWeek by the company stated that Flint Group India and South Africa “continues to collaborate with its global supply chain partners to mitigate as many negative effects as possible”.  However, it blamed the recent force majeure announcements and the global freight imbalance for the corrective actions and said the current situation is not sustainable in the long-term.

Roy concluded, “Despite today’s announcement, we are resolutely committed to efficiency projects to negate the adverse supply chain circumstances, wherever feasible. Nonetheless, the magnitude of these increases makes it clear that these activities alone will not suffice.”