PET production of Russian producers dropped from January to August 2014 by 2% year on year. Russia produced 298,000 tonnes of PET over the first eight months of the year. Higher figures of the estimated  consumption were achieved due to imported PET chips. Increased purchasing in foreign markets led to higher imports of Asian material. PET imports rose over the stated period by 27% year on year and totalled 155,000 tonnes.

 

It is worth noting that PET imports into Russia have been  falling since July on the back of weak domestic demand and sufficient quantities in warehouses. August imports decreased by 19% from July, reaching 12,000 tonnes.

 

The rouble devaluation and large stocks at Russian converters" warehouses will contribute to a sharp fall in imports in the remaining months of 2014.

 

Exports from Russia fell from January to August 2014 by 16% year on year to 13,600 tonnes.

 

Buying activity was sluggish in the PET market in September. Producers and converters reported significant leftovers of PET and finished products.