Invitation to the Meeting on Solutions to Raw Material Price Increases
PAGEV Plastics Manufacturers Foundation
“ASTRONOMICAL INCREASES IN RAW MATERIAL PRICES” WITH THE AGENDA ITEM "INCREASE AND OUR PROPOSED SOLUTION" INVITATION TO THE MEETING ON FEBRUARY 24TH
The astronomical price increases in raw materials, which began in August and reached up to 137%, continue to shake our industrialists. The raw material price crisis, deeply felt throughout the domestic market from Istanbul to Gaziantep, Konya to Kocaeli, has brought production to a standstill. Even if they find raw materials, industrialists are forced to buy them at high prices; their working capital is eroding daily, the production chain is disrupted, factories are experiencing problems with customers due to the continuous rise in prices, and they are facing market losses.
To alleviate the pressure on our industrialists, who are struggling with rising prices, we not only brought the issue to the public's attention but also shared our proposed solution. As part of our two-pronged approach, we first requested the temporary suspension of taxes on raw material imports, thereby opening the way for the supply of tax-free, cheaper raw materials. The second part of our proposed solution emphasized the role of PETKİM (the state-owned oil and gas company). We argued that until the global supply cuts ease, PETKİM should use all of its raw materials to supply the domestic market. We anticipate that if these two steps are taken, the supply of raw materials in the domestic market will increase, ultimately easing speculatively inflated prices and potentially even helping to burst the artificial price bubble.
We shared our proposed solution, which received widespread media attention, separately with our Ministers of Industry and Trade. On Thursday, February 18th, we are quickly convening the TOBB Plastics, Rubber, and Composites Industry Council in Ankara with the agenda of "Astronomical Increases in Raw Material Prices and Proposed Solutions." As the President of the TOBB Plastics, Rubber, and Composites Council, the highest representative body of plastics, rubber, and composites producers in our country, we aimed to strengthen our solution-oriented approach by inviting civil society organizations and stakeholders in our sector to our meeting.
Now, with the broad participation of you, our esteemed industry representatives, our goal is to demonstrate how these increases are undermining production, to present our proposed solutions, and most importantly, to show how the industry has united in the face of this problem. We will be holding a Zoom meeting titled "Astronomical Increase in Raw Material Prices and Proposed Solutions" on Wednesday, February 24th at 2 PM. I would like to remind you that our broad participation as industry professionals in this meeting will make a significant contribution to solving the problem. To attend the meeting... in the link (click here) You need to fill out the form provided.
Any questions you may have regarding the meeting ugur.aktel@pagev.org.tr You can send it to this email address.
Kind regards,
Yavuz Eroğlu
PAGEV President
To participate in the meeting, you need to fill out the REGISTRATION FORM (Click here).
Click here for the A Para TV broadcast dated January 26, 2021.
Click here to listen to the statements on the "Real Markets" program on Industry Radio.
Click here for Sözcü Newspaper's article titled "Price Hike Wave is Imminent".
Click here for Sabah Newspaper's article titled "Industry's Raw Material Dilemma".
Click here for Dünya Newspaper's article titled "Plastic Raw Material Crisis is Growing".
Click here for BloombergHT's news story, "The risk of plastic packaging in food inflation.".Click here for the NTV News report titled "Food Packaging Price Increase May Be Coming".
Click here for the Kanal B Main News broadcast dated January 28, 2021.
Click here for the presentation and proposed solution we shared with our ministry.
Turkish Plastics Manufacturers Research, Development and Education Foundation
Office: Florya Plaza, Şenlikköy Mah. Eski Halkalı Cad. No: 3/8 Bakırköy 34153 Istanbul
Wire.: +90 212 425 13 13 / 3 Lines Fax: +90 212 624 49 26
E-mail: pagev@pagev.org.tr Web: www.pagev.org
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