Category: Naphtha

Export-Import Market of Naphtha Product in the Present Scenario of Economic Slowdown Worldwide 2023-2024
Apr 07

Export-Import Market of Naphtha Product in the Present Scenario of Economic Slowdown Worldwide 2023-2024

Naphtha is a light, volatile, and colorless hydrocarbon liquid that is used as a feedstock in the production of petrochemicals, as a fuel for power generation, and as a solvent for industrial applications. The global export-import market of naphtha has been impacted by the economic slowdown worldwide, which has led to a decline in demand and prices. The Present Scenario The world is currently experiencing an economic slowdown, with many countries facing sluggish growth, high unemployment, and increasing debt levels. Read Full Details…

Feb 03

India raises naphtha import tax to boost local sourcing

India has increased its tax on naphtha imports to 2.5pc from 1pc earlier with an aim to boost domestic sourcing of the petrochemical feedstock, budget documents the government released on 1 February show. The increase reverses a naphtha import tax cut the government made in May 2022 in response to rising costs of raw materials, providing reprieve to the plastic manufacturing industry. A surge in crude prices past $100/bl then had exacerbated production costs at naphtha-dependent ethylene producers. The new Read Full Details…