Driving transparency and growth in
South Asia recycled plastics
market
SINGAPORE, April 13,
2023 /PRNewswire/ -- S&P Global Commodity
Insights, the leading independent provider of information, analysis
and benchmark prices for the commodities and energy markets,
announced on April 3 the launch of
India's first price assessment by
Platts for recycled polyethylene terephthalate flakes (R-PET) to
bring greater transparency to pricing, especially with recycled
plastics demand rising amidst global energy transition efforts. The
launch of the new free-on-board (FOB) India R-PET price assessment
further augments Platts' pre-existing suite of R-PET offerings,
which includes price assessments in Europe, U.S. and Southeast Asia.
Vanessa Ronsisvalle, regional
pricing director, Asia
petrochemicals, S&P Global Commodity Insights, said: "The
new Platts FOB India R-PET price assessment will help meet a
growing need from market participants for high-quality, transparent
pricing information for this fast-developing export market in
Asia. By providing an independent
view of its market value, the increased transparency will help
participants make informed trading decisions and spur the growth of
a nascent recycled PET market in South
Asia. We believe the marketplace will find Platts pricing
information of critical value to the development of the Indian
recycled plastics market, as it becomes increasingly
commoditized."
A comprehensive market research conducted by Platts showed
robust growth in India's plastic
recycling capacity in the organized sector, where large volumes are
being exported. A deep dive into India's customs data showed the country's
exports were approximately 10,000 metric tons from January to
November 2022, reflecting a four-fold
jump year on year. India's
emergence as an exporter of R-PET flakes coincides with the
continued rise in global environmental sustainability concerns and
ambitions, which has big brands announcing aggressive targets for
the use of recycled materials in their packaging globally.
The new daily FOB South-Asia assessment reflects a recycled PET
flakes quality specification based on an intrinsic viscosity (IV)
level of 0.72 – 0.78, PVC content of less than 30 parts per million
(ppm), and 100% clear in color.
The new assessments will be underpinned by the rigorous Platts
Market-On-Close (MOC) price assessment methodology, which produces
a daily end-of-day value that reflects prices as determined by
buyers and sellers in the open physical markets.
See subscriber note. For additional details, consult this
methodology and specifications guidelines page.
For additional information on the R-PET price assessments,
contact (petchems@spglobal.com). More petrochemicals information
can also be found at:
https://www.spglobal.com/platts/en/commodities/petrochemicals.
Media
Contacts:
Global/EMEA: Paul
Sandell, +44 7816 180039,
paul.sandell@spglobal.com
Americas: Kathleen
Tanzy, + 1917 331 4607, kathleen.tanzy@spglobal.com
Asia: Melissa Tan, + 65 68189
7569, melissa.tan@spglobal.com
About S&P Global Commodity Insights
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SOURCE S&P Global Commodity Insights