JAKARTA: National petrochemical industry may only be able to reach breakeven point this year since it suffered huge financial loss in first half as resulted by the impact of debt crisis in Europe and economic slowdown in US.
The industry sale value fell 12.5% to US$1.57 billion in first half of 2012 compared to US$1.8 billion in the same period in 2011, Association of Aromatic, Olefin, and Plastic Industry Association (INAplas) Secretary General Fajar Budiyono said.
“Crisis in Europe and US makes the margin in national petrochemical industry to only reach breakeven point throughout this year,” he said Monday (7/29/2012).
He expects demand to grow again in second half of 2012 in line with the increase of plastic consumption ahead of Lebaran (Eid-ul-Fitr) and Christmas.
“With the increasing demand, we optimistic the price of petrochemical product could increase so that losses this year is not too large.”
According to him, the margin could reach breakeven point until the end of this year if price and demand increase slightly ahead of Lebaran. (T06/aph)
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