Export PP prices from Indonesia re-emerge in SEA
A converter based in Vietnam said that they received offers for 200 tons of Indonesian raffia and injection at $1050/ton CIF, cash. “We do not find these offers to be attractive as we feel that PP prices still have room to move down given sufficient supply within the region,” the buyer stated. A bag manufacturer in the Philippines reported receiving an offer for Indonesian raffia at $1075/ton CIF, adding, “We are not sourcing from the import market these days as we find local prices to be more attractive.”
The emergence of these offers comes at a time when Indonesian producers are pushing to achieve price increases in the domestic market. An Indonesian producer implemented cumulative increases of IDR340,000-650,000/ton ($24-45/ton) for PP this week after the producer had lifted its prices by a cumulative amount of IDR400,000-410,000/ton ($28-29/ton) in the prior week.
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