India’s total PVC imports hit record-high in 2019
A comparison of PVC imports in 2018-2019
Buying was stronger in the first half for both years with imports rising 14% to 1.12 million tons in first half of 2019 compared to the same period of the previous year.
Within the first half, the first quarter tends to be especially busy with strong order flow as businesses aim to close their books for the year on a strong note. India’s fiscal year ends on March 31.
In the second half, import volume rose 5% to 1.02 million tons last year.
PVC demand traditionally buoyant in H1
Indian PVC demand traditionally tends to be stronger during the first half of the year due to the agriculture high season and strong construction activity.
Agriculture plays an important role in the Indian economy by contributing 15-20% to the country’s GDP and providing employment to more than half of its population. Around 70% of PVC demand comes from pipe-laying activities.
The remaining PVC demand comes from the construction sector where uses range from piping to wire and cable insulation.
Construction and infrastructure activity also tends to be strong in the first half due to the climate.
India’s monsoon season lasts from June to September and stretches longer in some years. During that period, heavy rains impede both building construction and agriculture while rough seas make loading and unloading at ports difficult.
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