As the wait continues for the new packaging targets for 2011 the latest quarter 3 data has been released giving the market an idea of what is going to happen to the very low current prices of PRNs.
Looking at the data that the Environment Agency has published for quarter 3 the targets will have to be increased quite dramatically if there is to be any increase in the PRN prices for the rest of 2010 and 2011.
Samantha Stonnell, Packaging compliance manager at Comply Direct comments: 'The release of Q3 figures has confirmed what has been seen within the market for PRN prices and there has been plenty of supply. 2011 looks set to be a stable year, but we are still waiting to receive 2011 targets from the government.'
So the question still remains, what will Defra do to the future targets? If there is just a small increase to the targets this is going to leave reprocessors in an uncomfortable quandary as to whether they should participate in the PRN market at all.