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EPS import duty not to change until 2014

September 07/2010
MOSCOW (MRC) -- The EPS market is one of a few in Russia with the zero import duty. The Common Customs Union has brought in the 0% import duty until 2014 - according to MRC Monthly report on the Russian polystyrene market.. 
EPS import duty not to change until 2014

 

The Russian expanded polystyrene market is totally dependent on imports. The current capacities of Russian producers can produce up to 3 kt of polystyrene.

 

The share of imported polystyrene is fluctuating within 70% - 85%. In July, overall EPS imports exceeded 12,6 kt. In November, the launch of the new SIBUR-Himprom 50.000 tpa site in Perm is going to let decrease imports share in the Russian market, but it will not fully meet the demand. The market will still be dependent on imports from Asia.

 

Traditionally, expansion of capacities is followed by the imposition of import duty to defend local producers. In terms of the Common Customs Union, from January 1, 2010 the common 0% import duty on expanded polystyrene in Belarus, Russia and Kazakhstan has been in effect. According to the desision of the Customs Union Committee №130 as of November 27, 2009, the zero import duty on EPS will be in effect until 2014.

 

Together with the Common Customs Union the procedure of changing import duty has become a lot more complicated. The EPS markets of these three countries are fully dependent on imports; and bringing in the defensive duty will only increase the polymer's price by the value proportional to the duty. As per MRC analysts, Russian producers will unlikely apply for import duty increase under current conditions.

 

mrcplast.com

 

For more information about the Russian polystyrene market, please, refer to MRC Monthly reports.

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