Abstract: A storage, shipping and dispensing system for loose fill packaging material comprises a collapsible pliant, vented cylindrical bag having an upper and a lower end including a dispensing apertured neck. Rings are circumferentially spaced apart about the bag adjacent both the upper and lower ends. The rings adjacent the upper end are coupled to suspend the bag in a dispensing mode and the rings adjacent the lower end encircle at stiff resilient hoop encompassing and maintaining the lower end of the bag in a radially extended nominal shape. A vertically adjustable support arrangement includes a circular rim having a plurality of spaced-apart hooks to support the rings of the bag. The bag may be readily filled in an inverted position with a large volume, such as in excess of 100 cubic feet, of expanded plastic loose fill material. Despite its size, the filled container may be easily handled during shipping and storage.