Due to rapidly increasing feedstock and logistic costs coupled with continued strong demand for plastic products, Berry Global’s raw material suppliers have informed us the previously announced 5th polyethylene price increase will be implemented effective December 1, 2020. In addition, those same suppliers have announced an additional increase for January 1, 2021 which, should it go into effect, will be the subject of a future announcement. Because of the December 1st resin increase, Berry Global will implement a price increase of 6% - 8% (product line specific) on all Can Liners, Food Bags, Table Covers, Aprons, Bibs, Poly Boots and Poly Gloves. This increase will take effect with all orders placed on or after February 8, 2021. Berry Global reserves the right to limit the size of orders to historical quantities to better serve the anticipated demand of our customers. All orders must call for immediate delivery.
Containerboard production was 0.7 percent higher compared to February 2016. The month-over-month average daily production compared to January 2017 was 0.5 percent lower. The containerboard operating rate for February increased from 96.5 percent to 97.8 percent, which was 4.0 percent higher compared to February of last year.