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Egypt’s OPC declares December PP raffia prices

by ChemOrbis Editorial Team - content@chemorbis.com
  • 02/12/2015 (16:45)
In Egypt, one of the local producers, OPC, issued their new December PP raffia prices with decreases of EGP1000-1200/ton ($128-153/ton) from November. Now, the producer offers PP raffia at EGP9000-9400/ton ($1149-1200/ton) on an ex- Ain Sokhna, cash not including VAT basis.

A source from the company commented, “We elected to decrease our offer levels by EGP1000-1200/ton for December. We believe that offering in local currency term is helping us to achieve better sales since buyers are trying to avoid the higher exchange rates and prefer to purchase on local currency terms.” The source also added that their plant is currently working at full capacity and that they are giving priority to supply the local market’s needs rather than the export market.
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