20 November 2012 16:59 [Source: ICIS news]
MEDELLIN, Colombia (ICIS)--Brazilian plastics production fell by 1.29% in the first nine months of 2012, compared with the same period last year, Brazilian plastics trade group Abiplast said on Tuesday.
Plastics production in September fell by 6% compared with the previous month, interrupting two consecutive monthly increases in the third quarter, Abiplast said.
September’s production slump was due to a downturn in all segments of the plastic sector, particularly in the production of plastic packaging, which was down by 8.3%.
Domestic demand for processed plastics in the first nine months of 2012 stood at Brazilian reais (R) 43.1bn ($20.7bn), up by 6% compared with the same period last year.
Abiplast said that the increase in demand was met by imports that have risen by 6% compared with the same period last year. Over the same nine-month period, exports fell by 12%.
The processed plastics sector accumulated a trade deficit of $1.6bn in the January-September period, an increase of 20.4% compared to the same period last year.
Abiplast said that the trade deficit pointed to a lack of competitiveness in the sector, mainly caused by increasing production and raw material costs and high tax burdens.
Abiplast recently called for further governmental measures to help boost the competitiveness of the sector.
($1 = R2.08)
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
Asian Chemical Connections