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| India Infoline Sector Reports | Thu, 04-Dec-2003 16:32:44 IST (GMT+5:30) | |
| Organic Chemicals Sector Update - March 2001 | ||
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March 30, 2001 Organic Chemicals Update - March 2001 Naphtha: In January 2001 the international prices of Naphtha decreased by US$1 per ton to US$551-252 per ton. Domestic prices decreased by Rs3090/ton to Rs10860/ton in January 2001. Ethylene: Prices of ethylene declined by US$3/ton to US$420-430/ton in January 2001. Average margins of cracker operators increased from US$85/ton to US$99/ton. Domestic prices remained stable at Rs31500/ton. Ethylene production grew at lower rate of 8.3% as compared to growth rate of 57.2% in the corresponding period of year 99-2000.Cumulative production during the first nine months for the year 2000-01 was at 1.13mn tons. Propylene: In January 2001, prices increased by US$9/ton to US$395-400/ton. NOCIL decreased its domestic prices to Rs31000/ton while IPCL retained its prices at Rs36000/ton. Butadiene: In January 2001, international prices of Butadiene increased by US$1 per ton to US$500-510/ton. In the domestic market NOCIL retained the prices at Rs35000/ton. Benzene: International prices of Benzene decreased by US$6/ton to US$355-365/ton. Price of imported material (CIF-India) was at US$385-390/ton. Reliance Industries decreased the prices of Benzene by Rs1200/ton to Rs23000/ton. Phenol: Domestic prices of Phenol ruled at Rs45,500 per ton in January 2001. The production for December 2000 was at 6969 tons, while the production during April-December 2000 declined by 7.3% to 55705 tons. Methanol: In January 2001 domestic prices of Methanol was at Rs14900 per ton. Output for Methanol during December 2000 was at 35,122 tons. During April-December 2000 production of Methanol declined by 2.4% to 0.27mn tons. Exports: Total chemical exports for the period April-November 2000 stood at Rs110.17bn, an increase of 25.7% over the pervious year. The organic, inorganic and agro-chemical totally recorded an increase of 43%yoy rise at Rs243.2bn.India’s share in world trade of organic chemicals constitute is 0.9% and that for inorganic chemicals is only 0.1%. Procedural bottlenecks and domestic distortions are major supply side constraints In India an exporter has to fill around 100 to 300 forms before he can actually begins exporting. According to a recent survey conducted by World Economic Forum, Geneva, India stands in 50th position (out of 53 countries) in competitiveness in terms of overall infrastructure development. Various Industry Associations and Business Chambers are asking for protection from Chinese products flooding the Indian markets. Instead they should be more focused on removing demand and supply side distortions. News Briefs: Sale of IPCL –Vadodara Unit to IOC Shareholders of IPCL have ratified the resolution to sell the Vadodara unit to IOC at mutually negotiated prices. The sale of the unit will be along with the labour force to IOC or any company nominated by IOC on an "as is where is " basis. IPCL’s corporate office at Vadodara and staff quarters that houses its senior staff falls under the preview of the valued assets which will have to be leased back from IOC or some other method devised to use the assets. HOC to sell 30% stake in HFL Hindustan Organic Chemicals (HOC) is in talks with Italian company Guarnislon Chemicals to off load 30% of its stake in its subsidiary Hindustan Flourocarbons Ltd.(HFL) .This forms part of the rehabilitation package submitted by the company after being referred to BIFR. HFL is the sole manufacturer of PTFE in India with a production capacity of 500 tons per annum. The Italian Company is the major manufacturer of PTFE and this move is in lines of the company to set up a base in India. |
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