November 1, 2012
TEHRAN (Nov. 1, 9:25 a.m. ET) — Iranian authorities have banned exports of polymers, along with petrochemical products, aluminum and some foodstuffs, according to Islamic Republic News Agency (IRNA).
“The Consumers and Producers Protecting Organization has lately announced that exports of 50 various industrial and petrochemical goods as well as foodstuff has been forbidden to support national production,” IRNA reported on Oct. 30.
No further explanation for the blanket ban was given. But Platt’s, the US-based commodities news group, noted the Iranian announcement was made after the US and Europe stepped up sanctions against Iran in connection with its nuclear program.
IRNA said all polymeric products are included in the ban. It specifically listed PE, PP, PVC, PS, PET, ABS. It also said styrene monomer and other petrochemicals are on the banned list.
Before the UN imposed trade sanctions against Iran, the country’s largest polymers producer Petrochemical Commercial Co (PCC) exported 11 percent of its products (polymers and petrochemical products) to Europe. Figures on PCC’s website show that in 2010, it exported 25 percent of its products to the Middle East, 22 percent to China, 18 percent to India, 15 percent to the Far East and 7 percent to Asia/Oceania.