Retailers have been told to “act quickly” as prices for turning in cardboard waste are at a 20-year high.

According to waste recycling specialist phs Wastekit, prices for recycling dry bales of cardboard ranged between £120 and £138 per tonne in July, compared to £73 to £92 in January 2021.

Jason Smith, managing director of phs Wastekit, said: “The price of cardboard can fluctuate, but 2021 has seen a real acceleration. The pandemic saw demand for cardboard rocket, so businesses have a real opportunity to open up a whole new revenue stream from their cardboard waste as a result.

“Baled waste cardboard, like boxes and packaging, can be sold on to recycling companies, bringing in new revenue for the business, whilst reducing waste collection costs and landfill fees. I find it astonishing that more businesses don’t see the potential in their waste, especially as it costs them so much to dispose of it.”