- A trader in Indonesia informed to SSESSMENTS.COM that deals for local PP Homo Raffia cargoes from the company’s end were concluded between IDR14,740,000-15,000,000/ton ($886-901/ton) on cash, FD Indonesia basis, and excluding 10% VAT. As the harvest season has started to kick-in, the trader received information from the customers that the demand for the woven bag is picking up. Moreover, the demand for rice is improving amid the Coronavirus outbreak and will provide support for woven bag sales.
- A Vietnamese converter reported to SSESSMENTS.COM that the company received import Middle Easter PP Homo Raffia offers at $770-780/ton on LC at sight, CIF Vietnam Main Port basis. However, the converter did not proceed with procurement as import offers predicted to decrease further in the upcoming week. The converter stated that demand from the company’s end is stable as their finished products are for food packagings like rice and sugar. Currently, the converter is still running production at normal capacity and is waiting for instructions from the government whether they have to shut factories or reduce the operating rate.
