Plastic exports rose 9.4 percent year-on-year to $933 million, as raw material prices fell and festive demand in key markets increased, Plexconcil said on Thursday.
The country’s plastic exports stood at $852 million in October 2022, industry body Plastics Export Promotion Council (Plexconcil) said in a statement.
“We are very pleased to see positive developments in exports of most product segments in October. There is an increase in demand after the festival season in key markets.
« We have also seen a decline in raw material prices, which has boosted exports. We hope that this trend will continue over the coming months and that we will be able to achieve overall growth despite the disappointing performance of the six last few months, » said Sribash, executive director of Plexconcil. Dasmohapatra said.
Exports of consumer and household goods improved 6.3 percent in October, mainly due to higher sales of plastic table and kitchen utensils, plastic construction items and plastic furniture.
India was found to be exporting more plastic construction items to the US and UK; and plastic furniture in Panama, according to Plexconcil data.
Exports of ropes, fishing nets and monofilaments saw an increase of 17.3 percent in October due to increased sales of made-up nylon fishing nets to countries like Chile, Kenya, Sri Lanka and the United Kingdom.
Exports of FIBC, woven bags, fabrics and tarpaulins showed a positive growth of 20.5 percent in October due to increased sales of plastic bags and sachets to some African countries and bulk containers flexible intermediaries in general.
Exports of flooring, leather fabrics and laminates jumped 43.3 percent in October, driven by higher sales of PVC flooring and textile fabrics impregnated, coated, covered or laminated with plastic to the United States.
Exports of human hair and related products increased by 49.1 percent in October due to higher sales of raw hair, whether washed or scrubbed or not, to Myanmar, and human hair, dressed, lightened and bleached , towards China.
Plastic medical items continued to perform well and their exports increased by 15.3 percent in October due to an increase in sales of spectacle lenses – which contributed immensely to the positive export growth of this particular panel, add the data.
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