There's a parrot on CNBC asking you to buy a Chinese plastic pipe maker ..
Local plastic manufacturers are struggling to keep costs in check in the wake of surging oil prices that are making their raw materials more expensive.
Crude has risen by about 20% yoy and now hovers at US$101 per barrel. As plastic is a byproduct
of oil, it has seen similar increases. Some manufacturers are unable to completely absorb the price rise
as the raw materials form a higher percentage of their overall costs. Thus, consumers will have to pay more for plastic products.
Source: DBS