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Producers overwhelmed with mounting petrochemical exports
02
Jun '08
Iran known as one of the leading producers of ethylene in the world saw the total value of its exported petrochemical products reach US $1.26 billion in the first three months of this year ending March 20, 2008.

The aggregate volume of 24 petrochemical products including ethylene and propylene, exported during this period touched 1,554,000 tons.

In the period between March 20 and April 19, Iran's total export volume of petrochemical products was around 751,000 tons valuing approximately $572 million.

Iran Petrochemical Commercial Company (IPCC) earned $14.5 billion from its sales in the period under review, of which $9 billion was fetched from exportation while the remaining was procured by marketing products in the country itself.

In contrast to this, last year, the company earned only $8.3 billion of which nearly $5.5 million were from exports.

This staggering difference in the figures show that export of petrochemical products from Iran is on the rise and that the market demand for the same has doubled considerably fetching high revenue to domestic producers and exporters.

Japan, United Arab Emirates, China, India, South Korea, Italy, Singapore and Taiwan have proved to be some of the most promising potential markets for Iranian petrochemical exports and with the growing demand, especially among the Asian countries, exporters can surely rest assured of a significant profit margin in the years to come.

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Courtesy: Reliance Industries

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