MOSCOW (MRC) -- Belarusian companies reduced imports of polyethylene terephthalate (PET) from foreign markets by 14% from January to December 2014 compared to the same period a year earlier, according to ICIS-MRC Price report.
Overall, 16,300 tonnes of PET were shipped to the market in 2014 versus 19,000 tonnes a year earlier. Converters reduced their import purchasing because of the general fall in demand in the market of finished products last year. The depreciation of the Belarusian rubel in December 2014 also had a negative impact on the purchasing power of local importers, which might result in lower imports in the first half of 2015.
At the same time, significant quantities of PET have been entering the Belarusian market from Russia. Russian plants announced their export prices for Belarusian companies in roubles. The devaluation of the Russian rouble partially offsets the depreciation of the Belarusian currency. Therefore, purchasing of Russian material is not expected to decline.
MRC