Sharp rise in export earning from PET waste flakes

FE Team | Published: July 21, 2011 00:00:00 | Updated: February 01, 2018 00:00:00

Arafat AraExport earning from Polyethylene Terephthalate (PET) waste bottle flakes went up by 101.27 per cent in the just concluded 2010-2011 financial year, due to growing demand in the overseas market for the products, said industry leaders Wednesday. They said the demand for the local PET waste bottle flakes has increased presently as the quality of the products is being maintaining according to the buyer requirement. "So, presently we are getting better price and more orders from the importers", the industry owners said. According to Export Promotion Bureau data, the country earned from PET waste bottle flakes around $ 31.58 million in 2010-2011 fiscal year, up by 101.27 per cent from $ 15.69 million fetched in 2009-2010 fiscal year. The sector also surpassed the export target for 2010-11 financial year by 86 per cent as it fetched around $ 31.58 million against the target of $ 17 million, showed the EPB data. Bangladesh Pet Flakes Manufacturers and Exporters Association (BPFMEA) president Sarwar Wadud Chowdhury said there is a large potential for PET bottle flakes in the overseas markets, predominantly used to produce polyester yarn and other items. According to the BPFMEA, the locally produced pet flakes are 100 per cent export-oriented as there are no domestic factories for their utilisation. Around 90 per cent of the PET flakes are exported to China. South Korea, Taiwan and Thailand Vietnam also imports the product. "If the government allows import of used PET waste, the export volume of PET bottle flakes may increase three fold in a year," he claimed. He said the sector is fully dependent on the local plastic PET bottles waste. These are frequently seen to be collected by poor women, young children and urchins. Nevertheless, an adequate supply of the materials does not exist to meet global demands. Additionally, he said, the country has bright prospects to earn substantial amounts of foreign currency like Indonesia through the PET waste. But the government considers the garbage as harmful and thus pollutant for the environment. The sector's insiders have reported that they are protecting the environment by collecting the PET waste bottles, all in conjunction with boosting the country's economy. However, they lack necessary support from the government to take the efforts further. "We want to assure the government that it (the PET waste) will not pollute the environment and only be used as raw materials," said Mr Chowdhury. Nearly 2,000 to 3,000 small and large PET waste producing factories exist in the country, involving nearly 1.0 million people.