- A Vietnamese trader revealed to SSESSMENTS.COM the recent adjustment made by a local producer for PP Homo Raffia offers. Compared to a week earlier, the producer’s offers for PP Homo Raffia decreased by VND500,000/ton ($21/ton) and available at VND24,300,000/ton ($1,041/ton) on cash, FD Vietnam basis, and including 10% VAT.
- Whereas in the Philippines, a converter commented that the company did not ask for offers for both local and import PP Homo Raffia cargoes owing to sufficient inventory on hand. Moreover, the converter’s production is still running at 50% from the normal operating rate since the labor shortage issue persists due to the limitation of public transportation in the country. The converter opined to SSESSMENTS.COM that public transportation will remain limited in the near term as the new confirmed cases of COVID-19 in the Philippines is still high. Demand-wise, orders for the woven sacks are still ongoing although it is still below normal demand. For packaging, healthy demand is only recorded for essential products such as food containers. However, the converter stated that the business in June is better compared to May as operating rate at most factories increased.
