Turkey’s homo-PP imports hit record high in January-August period
Turkey imported a total of 1,035,727 tons of homo-PP in the January-August period of 2016, surpassing the 1 million threshold for the second time since 2000 when ChemOrbis started keeping records. It was the first eight months of 2014 when the country’s cumulative homo-PP imports moved above this threshold for the first time; however, the latest data shows that the 2016 figure is noticeably higher when compared to 2014.
Looking at origins that are at the top of Turkey’s homo-PP imports list, Saudi Arabia ranked as the first with 363,219 tons in the first eight months of 2016. When compared to the same period of 2015, homo-PP imports from Saudi Arabia increased by around 17%.
As the second largest homo-PP supplier of Turkey in the January-August period of this year, Egypt also raised its exports to Turkey by around 60% from a year earlier. Turkey imported a total of 161,610 tons of homo-PP from Egypt in the last eight months. However, players report that homo-PP imports from Egypt might see a decrease in the last quarter of the year. “Egyptian suppliers are reluctant to allocate large quotas to Turkey where they struggle to obtain good netbacks. Plus, local PP demand in Egypt has been doing very well in the recent months due to serious exchange rate issues. Domestic producers could prefer to sell more to their own market rather than to export,” a trader in Turkey commented.
The data also shows that Iran is the third largest homo-PP supplier of Turkey in the first eight months with a total of 92,585 tons. This figure shows a year over year increase of 6.4%.
Meanwhile, in August 2016, the country’s homo-PP imports recorded a monthly increase of around 50% to reach 142,687 tons. This increase was attributed to the fact that PP players made more purchases following the end of the Ramadan month due to their low stock levels.
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