Packaging materials and solution company Uflex on Friday said raw material shortage led robustness in BoPET (biaxially-oriented polyethylene terephthalate) prices.

In an interview to CNBC-TV18, Rajesh Bhatia, group president (Finance & Accounts) and chief financial officer, said, "October was better than September in terms of overall spread for us."

BoPET spreads have seen a sequential correction starting in October. BoPET is basically a polyester film used for its high tensile strength among other features.

“In September BoPET would be about Rs 60, in October it was 10 percent higher than that and November was a bit subdued, but given the 10 percent price increase that is expected, given that the raw materials have firmed up and given that the raw material shortages are also happening, I see robustness coming to this,” Bhatia said.

For the entire interview, watch the video