War on plastic waste faces setback as cost of recycled material soars

Europe's manufacturers face $250m-a-year hit as rising demand drives up price

The battle to reduce Europe's plastic waste could become a quarter of a billion dollars more expensive every year as the cost of recycled plastic soars.

In recent months, the price of recycled plastic flakes, used to make goods from soft drink bottles to glitter, has become more expensive than virgin plastic for the first time.