Question : Price of Petrochemicals

a) whether the prices of petrochemicals have increased considerably during each of the last three years and the current year;
b) if so, the details thereof and the reasons therefor;
c) whether the Government has ascertained the impact of such increase in prices of petrochemicals on the packaging costs of various products, various sectors and consumer goods during the said period;
d) if so, the details thereof and if not, the reasons therefor; and
e) the corrective steps taken /bring taken by the Government to keep a check on the prices of petrochemicals in order to protect the interests of various sectors as well as the common man?

ANSWER
MINISTER FOR CHEMICALS AND FERTILIZERS (SHRI D. V. SADANANDA GOWDA)

a) to (d) Ministry of Petroleum & Natural Gas has informed that the Public Sector Oil Marketing Companies take appropriate decisions on the price of petrochemicals in line with their international prices which are market driven and fluctuate. Based on the information provided by Indian Oil Corporation Ltd. (IOCL), the average price of petrochemicals mainly used by the packaging industry i.e. Purified TerephthalicAcid (PTA), Mono Ethylene Glycol (MEG) and certain grades of Polyolefins, for the last three years including current year are as follows:




(Rs. / MT)

(Rs. / MT) MEG PTA Polyolefins
HD LL PP
2016-17 57204 52388 87754 88605 83074

2017-18 65304 54560 84683 84161 86753

2018-19 61934 72744 95580 83834 94778

2019-till date 48077 68708 82977 78236 92147

(e) Since the petrochemicals are freely traded products, there is no Government intervention on their prices.
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