, which can happen legally or illegally, can yield substantial profits. In fact, the global value of legitimately traded cardboard is expected to reach $5.4 billion in 2024, up from $4.3 billion in 2017.
Recycled cardboard is worth its weight in "beige gold," with a ton of it going for roughly $108. When cardboard is illegally sold, "legitimate recycling firms, and the city and other local authorities who take a cut from their sales, are missing out on tens of millions," according to the BBC. Normally, cardboard boxes are sent to China to be pulped in order to make new boxes. But clever thieves intercept the packages before they can be sent back out for recycling.
The issue has become so rampant in countries like Spain that task forces have been formed to bust these cardboard recycling rings. In 2018, 42 men were accused of taking part in 11 of 18 illegal recycling routes in Madrid, stealing and shipping 67,000 tons of waste totaling $11.8 million. It has been estimated that the city of Madrid lost $18.9 million.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Inside Benetti's 353-foot hybrid gigayacht 'Luminosity' - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. I may be mistaken but I think it's currently docked in Portofino, Italy. My offer, 1 Bitcoin
Source: BusinessInsider - 🏆 729. / 51 Read more »
Inside the French Riviera's pandemic party problem - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Houston we have a problem.... or in this case, France. 25 guys and only one woman, huge problem.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Moving from California to rural Maine town during coronavirus pandemic - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Oh yeah, GFY! ErikSTownsend hmmmm
Source: BusinessInsider - 🏆 729. / 51 Read more »
In-demand remote jobs that are hiring during the coronavirus pandemic - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Elon Musk tripled his net worth during the pandemic - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. elonmusk if you and the others have one trillion. Could I have just only one billion please and thank you 🙏🙏🙏🙏🙏🙏 We could've had bernie Sanders
Source: BusinessInsider - 🏆 729. / 51 Read more »