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Tax removal on white goods stimulates ABS demand in Turkey

by ChemOrbis Editorial Team - content@chemorbis.com
  • 13/02/2017 (15:53)
In early February, Turkey’s Ministry of Finance announced that it would remove the special consumption tax on white goods for three months in a bid to support domestic demand. Also, taxes would be lowered on certain housing projects to boost the construction sector.

Today, an ABS seller commented that the recent plan has improved demand from manufacturers since last week. “ABS supplies are tight in Turkey nowadays since traders have been quite cautious with their replenishment activity due to steep import price increases from their Asian and European suppliers. Moreover, demand from the white good industry has picked up following the government’s recent decision to remove the consumption tax which boosted inquiries from converters compared to the previous months.”

According to ChemOrbis Price Wizard, the locally-held ABS natural injection market reached to the highest levels of more than 2 years on a weekly average, driven by higher production costs, surging import market, the globally firming ABS trend and diminishing availability from Iran.
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