Asia Largest Importer of Iranian Petrochem

More than 40% of Iran's petrochemical output is shipped to buyers in South East Asia and the Far East, National Petrochemical Company's coordination and supervision director said on Sunday, adding that African countries as well as European destinations each account for 20% of NPC's outbound consignments. "Despite having customers, NPC is planning to diversify export markets," Ali Mohammad Bosaqzadeh was quoted as saying by Mehr News Agency. According to the official, NPC analysts scrutinize potential markets' demand so that the company can propose the best price for its products. "The nearer the target destinations, the more profitable business will be due to lower shipping costs," Bosaqzadeh said. According to Marzieh Shahdaei, the NPC chief, Iran has 38% of the petrochemical market in the Middle East. Iran's petrochemical production capacity is around 65 million tons a year.