Polyethylene import duties seen to protect petrochemical industry - BusinessWorld Online

📆 10/14/2022 10:30 AM
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THE recently imposed duties on high-density polyethylene (HDPE) imports will protect the local petrochemical industry from cheap foreign resins entering the country, according to JG Summit Olefins Corp. (JGSOC). READ:

On Wednesday, the Department of Trade and Industry ordered the imposition of safeguard duties on imports of HDPE pellets and granules for three years.

The firm said that the move will contribute to the new administration’s drive of ensuring the country’s long-term economic recovery. The domestic petrochemical industry is expected to enhance its international competitiveness in the three years, it said, citing a report by the Tari“This includes having adjusted its selling prices to absorb production costs and operating expenses and generate reasonable margins,” it said.

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