23 August 2013 22:32 [Source: ICIS news]
HOUSTON (ICIS)--Polyvinyl chloride (PVC) supply in Venezuela has been severely reduced because of undetermined issues at the local producer’s plant and of insufficient availability of imported resin, sources in the country said on Friday.
PVC producer Pequiven has traditionally sold a resin mix of domestic and imported resin to processors in the country.
Additionally to selling the PVC it produces, Pequiven has been importing material to satisfy the country’s resin demand. However, imports are also insufficient to complete requirements as Pequiven has been delivering incomplete orders and with substantial delays.
The problems at Pequiven’s PVC production plant are not clear, and no explanation has been provided by company officials, local sources said.
Market participants outside of Pequiven said they are expecting the production problems to be solved in about 60 days, but no official timeline has been made available.
Private industry participants are authorised to import PVC. Buyers who have the resources and can navigate through the red-tape applied to permits, to import licenses and to the purchase of foreign currency will import directly.
Conditions in the country continue to deteriorate as raw materials, additives, medicines, food and toiletries and even toilet paper are in short supply, local sources added.
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections