Sunday, June 5, 2011

Venezuela shortage of plastic resins



In 2007, before this blog was started, Venezuela's Pequiven had many plans to increase its production of plastic resins, in my opinion to serve international markets.

The reality has been that the internal market in Venezuela has hugely grown. Even by 2008 firms such as Procter and Gamble were struggling to keep up with the demand increase for their products.

However, the plans to increase the polyolefins production never materialize, but they have been delayed to 2014, as can be seen in previous posts.

The demand of plastic resins in Venezuela have grown so much, that actually we are experiencing a shortage of plastic resins. (link in spanish).

They are even some news about Venezuela no longer exporting PVC, in order to dedicate 100% of its production for the internal market. This will mean that Venezuela is switching from being a net exporter to a net importer of plastic resins, at least until 2014.

The good part of this, is that there are all possible incentives to focus on the construction of the new plants, and a great effort on production and also in development should be paid to adapt the resins produced to the Venezuelan market.

Better times are coming, for sure. But the lack of vision of the Pequiven´s directors board should have taken us to a better position already at this point.

1 comment:

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