Amcor Plans to Hike Prices

Amcor Ltd., Australia’s largest paper and packaging maker, said it will probably raise prices for some of its cardboard box products, matching increases by its biggest rival, as demand increases and material costs gain.

Visy Industries, an Australian paper and packaging, recently announced a 7 percent rise for its non-contracted box business from May 1. Amcor, which dominates the Australian corrugated box market with Visy, said it will probably also boost prices.

Amcor’s decision comes as global paper and packaging prices are continuing to improve from a slide that began in 1998 because of Asia’s economic crisis and a worldwide glut of paper- manufacturing capacity. The price of benchmark pulp has gained about 42 percent in the past year to about $667 a ton, according to weekly prices posted on the Finnish Options Exchange.