Waste PET bottle flakes exports jump 78pc

Arafat Ara Earnings from export of Polyethylene Terephthalate (PET) waste bottle flakes grew by 78 per cent during the five months of the financial year 2011-12 due to rising demand for the product abroad, said sector insiders. There is a large demand for PET bottle flakes in the overseas markets, predominantly used to produce polyester yarn and other synthetic items said industry leaders. The country earned around $19.61 million from PET waste bottle flakes in July-November period this fiscal year, up from $11 million in the corresponding period of last year, says an official data of Export Promotion Bureau (EPB). The sector also crossed the export earning target set for the period at $16.80 million. Bangladesh Pet Flakes Manufacturers and Exporters Association (BPFMEA) president Sarwar Wadud Chowdhury said the demand for the local PET waste bottle flakes has increased as the quality of the products is being maintained according to buyers requirement. "So, now-a-days we are getting better price and more orders from the overseas importers", said the BPFMEA president. According to the BPFMEA, the locally produced pet flakes are 100 per cent export-oriented as there are no domestic facilities to recycle the waste. BPFMEA president said the country has bright prospects to earn substantial amount of foreign currency through export of PET waste. Around 90 per cent of the PET flakes are exported to China, South Korea, Taiwan and Thailand. Vietnam also imports the product. Nearly 2,000 to 3,000 small and large PET waste producing factories exist in the country, employing nearly 1.0 million people.