Crisis talks have been held in Portlaoise aimed at finding a solution to the plummeting global prices of recycled materials - which has dipped by as much as 75%.

Ireland's waste industry called on the government to provide assistance, amid an international market collapse.

Firms want help to store hundreds of thousands of tonnes of recycled material. A system of 'co-incineration' is said to be on the table.

Recyclable commodities, such as cardboard, have experienced a sharp slide in value - as part of a global market correction - much the same as that of oil.

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Massive international importers, in countries like China, are now only willing to pay a fraction of the previous values of recyclable waste.

The shift in price has occurred dramatically over the past two months.

A solution to the problem is likely to be expensive, but it is believed the government will consider storing some of the waste.

There is no indication at this time, however, that prices will strengthen.

Selling-off the remaining materials is reportedly another option. This would mean slashing prices dramatically, but it is undecided who would endure the loss most.

Controversial plans to export certain materials to fuel cement-kiln fires have also been reportedly discussed.

It is suggested such a move would risk diminishing the public's value of recycling.

(PR/JM)