19 February 2010 23:55 [Source: ICIS news]
HOUSTON (ICIS news)--The local PVC producer in Venezuela is expected to update its PVC price lists in early March, local sources said on Friday.
Suppliers need Pequiven’s price adjustments to establish selling levels for local industry, participants said.
Currently, Venezuelan suppliers of imported resin would have to sell resin at old prices established by Pequiven, but pay foreign suppliers in devalued currency and lose in the process.
The producer, Pequiven, has maintained PVC prices unchanged despite the late January devaluation of the Venezuelan currency, the Bolivar.
The currency was devalued by 20%, from 2.15 Bolivares/dollar to 2.60 Bolivares/dollar, for non-luxury items such as raw materials needed in industry.
Import licenses for PVC would be issued contingent on a government permit establishing that the imported resin is not produced in ?xml:namespace>
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