Venezuela. Everything seems to indicate that the South American country would suffer during the month of December a shortage of architectural paints, due to the current low production due to lack of raw materials for the formulation of the products.
According to the president of the Venezuelan Association of the Chemical and Petrochemical Industry (Asoquim), Juan Pablo Olalquiaga, in statements published by the Mercadodedinerove.com portal, "there is no possibility that we will not spend a December without difficulties."
The lack of cancellation of foreign exchange has prevented the purchase of essential raw materials such as titanium dioxide in Venezuela, in addition to other products necessary for production.
The executive acknowledged that the allocation of foreign currency was insufficient and has only allowed to alleviate the payment of the debt with international suppliers, which reaches US $ 490,000.
Likewise, Olalquiaga indicated that the current production in Venezuela is not working all its installed capacity and that in the current year the production of pigments is 93% compared to the previous three years, despite the fact that at that time the production was not total either.
Finally, he indicated that the prices of the products are in freezing three years ago and that many companies in the sector are ending their inventories, which would cause the closure of these. "We have an economy that tries to reduce consumption and not generate more products," he added.
