Due to soaring international crude oil prices and rising raw material costs, the prices of printing inks and art packaging products have increased by 15% since August 15. According to Lu Wenjian, chairman of the Malaysian-Mex Manufacturers Association, the raw materials for printing inks are by-products of petroleum. In the past few months, the members of the Association have absorbed the cost of soaring crude oil prices. Now they are no longer able to bear the burden and are therefore forced to increase their prices. He said that the 15% increase was unanimously decided by the members of the association.
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