briefs

Indorama Ventures Plc (IVL) has agreed to acquire 100percent of the polyethylene terephthalate (PET) assets of Indonesia’s PT Polypet Karyapersada. 

The assets include a plant that can produce up to 100,800 metric tonnes per annum of 

PET, IVL said in a statement. The plant is situated adjacent to the purified terephthalic acid (PTA) assets of PT Indorama Petrochemicals (formerly known as PT Polyprima Karyesreska) at Cilegon, West Java. PT Indorama was acquired by IVL in 2011. 

Approximately half of Polypet’s output today is for domestic consumption. 

 

Cassava price stays low 

The Commerce Ministry has sent a team to inspect cassava fields and traders’ stockpiles following a prolonged decline in the crop’s price despite the launch of a pledging scheme.

Permanent secretary Yanyong Phuangrach said the inspections would determine the reason for the failure of the cassava price to rise despite a high pledging price of Bt2.80 per kilogram. He attributed the price decline to Bt1.30Bt1.90 per kilo to the fact that many traders had not joined the government’s pledging scheme because they had stockpiles before pledging started.

So far, 830,000 tonnes of cassava from 37,000 farmers have been entered into the pledging scheme.