Page 155 - CW E-Magazine (3-12-2024)

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TRADE TROUBLES

Gujarat chemical firms feel pressure of rising

raw material costs

Even as Gujarat’s chemical sector “We have seen a sharp increase
is witnessing signs of recovery after a in products coming from China in
challenging year, the hike in raw mate- October. We believe that China too saw
rial costs from Chinese suppliers has lower orders for the last three years, and
put pressure on input costs, according recently demand has increased, result-
to a report in the Times of India. ing in a price rise. However, there is
Basic chemicals and intermediates have good demand, and due to that, compa-
seen a price rise of 15-20% over two nies can pass on the effect of raw mater-
months, driven by higher demand, demand was improving, the recent price ial price rise. There is good demand for
the report quoted industry players as rise has put pressure and increased dyes in the domestic market, and ex-
saying. working capital requirements for port demand is also improving,” said
MSME companies. “If prices increase Mr. Manish Kiri, MD of leading dyes
“Chinese imports have become further, margins will be under pres- firm, Kiri Industries.
costlier due to an increase in shipping sure,” said Mr. Patel.
rates. Also, Chinese manufacturers “Almost all products from China
have hiked prices of various chemi- The industry’s recovery follows a have become costlier by 15-20%, and
cals and important raw materials like difficult period exceeding a year. the main reason is the rise in the price
refined naphthalene, gamma acid, beta of sulphuric acid and oleum. The sud-
naphthol, tobias acid, vinyl sulphone, The textile industry’s orders for the den price rise has affected small manu-
etc. by an average of 15% in October,” Diwali season have boosted domestic facturers. However, if prices stabilise,
said Mr. Bhupendra Patel, Chairman of dyes demand. Gujarat holds approxi- there will be good business,” said
Chemexcil Gujarat region. mately 70% of India’s dyes chemicals Mr. Nilesh Damani, Vice President of
manufacturing capacity, according to the Gujarat Dyestuffs Manufacturers’
He added that while the global industry data. Association (GDMA).

CSR INITIATIVE

Tecnimont and partners setting up waste-to-biogas

plant in Odisha

Tecnimont, a part of Italian engineer- kitchens. “This project will create jobs
ing conglomerate, Maire, has announced for local people engaged in the waste
that its Indian subsidiary, Tecnimont collection activities and bring educational
Pvt. Ltd. (TCMPL) has teamed up with benefits, serving as a model for inno-
Paradeep Municipality and National Insti- vative solutions and actively engaging
tute of Technology, Karnataka – Surathkal university students in practical learning
(NITK) to develop a biogas plant from experiences,” a company statement said.
waste at Paradeep Municipality, District
Jagatsinghpur, Odisha, as part of the A first pilot plant was inaugurated
Corporate Social Responsibility initiatives cular, this initiative will help Paradeep in 2021 at NITK campus, promoting
that TCMPL is carrying out in India. Municipality to generate biogas by research and improving energy self-suf-
converting food and vegetable waste ficiency within the campus. The gene-
The biogas plant enhances the through anaerobic digestion; the biogas rated energy is obtained by converting
deployment of circular solutions to effi- obtained from the recycling of organic food and vegetable waste from the
ciently manage organic waste. In parti- waste will be then used by community hostel blocks and canteens.

Chemical Weekly December 3, 2024 155

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