Oil's dream to grow in plastics dims as comparnies turn to plant-based packaging

Packages of Coca Cola and Ciel water in plastic inside a delivery truck in the Zona Rosa neighborhood of Mexico City, Mexico, on April 2, 2014. Bloomberg photo by Susana Gonzalez.

Companies that make packaging from plants instead of fossil fuels are starting to challenge the oil industry's ambition to increase the supply of raw materials for plastics.

Use of bioplastics made from sugar cane, wood and corn will grow at least 50 percent in the next five years, according to the European Bioplastics Association in Berlin, whose members include Cargill Inc. and Mitsubishi Chemical Holdings Corp. German chemical giant BASF and the Finnish paper maker Stora Enso have stepped into the business to meet demand from the likes of Coca-Cola to Lego...

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