This replaces the previously announced
feedstock surcharge of $.01 per pound that has been in effect since April 1, 2019.
He said the pricey bioethanol
feedstock had also prevented the oil companies from sourcing their ethanol needs from local producers, because imports proved to be cheaper when it comes to cost pass-on impact on consumers.
The hearing, spearheaded by Speaker Gloria Macapagal-Arroyo, sought to address the issues hounding the local bioethanol industry, especially RHI's request to import
feedstock.
Similarly, the GIDC rate for gas used as
feedstock and fuel by old fertiliser plants and CNG stations will be reduced by 50%.
Also, GIDC rate for gas utilized as
feedstock and fuel by CNG stations and old fertilizer plants will be slashed by 50%.
"Sabic is proud to be the first petrochemical company to implement a project for the chemical recycling of challenging plastic waste into
feedstock for steam crackers.
The directorate general of foreign trade banned the use of imported petcoke as fuel, but said shipments for use as
feedstock in certain industries were allowed.
'Mazut, an eco-unfriendly fuel, accounted for 45 percent of Iran's power plant
feedstock in 2013, but declined to 8 percent in 2015, and plans are underway to put an end to it in the shortest possible time,' Arash Kordi, the managing director of Iran Power Generation, Distribution and Transmission Company was quoted as saying.
There are also inflation pressures for certain engineering polymers, including Nylon 66, where Benzene is a key
feedstock.
All in all, this low-cost
feedstock environment has spurred a massive expansion of the US petrochemical industry - in fact, ethylene capacity is expected to rise by a staggering 7.5 million tonnes over the next five years.
This rapid manufacturing process consists in mixing metallic or ceramic powder with molten polymeric binder to obtain a
feedstock which is injected into a mold cavity to produce parts with complex shape.