Plastic approach: FAS to discuss mandatory exchange sales of polymers and polyethylene

The FAS is considering the option of expanding the list of goods subject to the requirements of mandatory sale through stock exchanges. Polymer materials and polyethylene can be added to such items. As a result, manufacturers will be required to send a fixed share of their products to organized auctions. All this is aimed at forming domestic price indicators, the FAS press service told Izvestia. Izvestia investigated how the introduction of mandatory exchange sales may affect prices and availability, as well as what potential risks or difficulties may arise for manufacturers and buyers.

Pricing

The launch of exchange trading in these goods is aimed at the formation of domestic price indicators, the FAS press service told Izvestia. Exchange trading also ensures the sale of goods at economically reasonable prices formed on the stock exchange. In addition, bidding eliminates antitrust risks for manufacturers of goods.

In the face of external constraints, the system of transparent and predictable pricing is of particular importance, Alexander Millerman, head of the Finance and Insurance Department at the Institute of EMIT of the Presidential Academy, told Izvestia. Organized exchange trading ensures open pricing due to the competition of supply and demand with the anonymous participation of the parties. This reduces the risk of manipulation and contributes to a more objective market price.

Photo: IZVESTIA/Eduard Kornienko

Exchange data serves as an important basis for analysis and forecasting in conditions of macroeconomic volatility, he noted. Verified indicators make it possible to more accurately assess market conditions, identify price anomalies and respond to external and internal shocks in a timely manner, reducing systemic risks.

The development of exchange trading, according to him, gives the state an instrument of economic policy, including through the establishment of standards for the mandatory sale of goods on the stock exchange. Such standards ensure the regularity of supply and the formation of a stable pricing environment for strategically important resources. This mechanism is fixed, in particular, by joint acts of the FAS of Russia and the Ministry of Energy of Russia.

— Today, the mandatory standards are: for gasoline — 15%, diesel fuel — 16%, liquefied petroleum gas — 7.5%, — the expert reminded. — For certain types of coal and cement, the standard is set at 5% of the sales volume. Practice shows that such requirements do not create a significant burden for producers and are sufficient to generate representative market statistics.

Photo: IZVESTIA/Eduard Kornienko

Exchange price indices are actively used by government agencies: the Ministry of Economic Development in macroeconomic forecasting, tax authorities for analyzing market behavior, as well as in public procurement to justify the initial price of contracts. In general, the development of exchange trading increases market transparency, reduces price volatility, and creates conditions for long-term planning and investment.

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World practice

All over the world, with the exception of a few post-Soviet countries, commodity trading acts as a voluntary market mechanism, Deputy chairman of the State Duma Committee on Economic Policy Artyom Kiryanov told Izvestia. Goods are offered on the stock exchange at the request of manufacturers, and the stock exchange serves only as a sales channel without any special advantages over traditional markets.

— In Russia, there is a practice of forced withdrawal of goods to the stock exchange, which turns it into a special institution that increases trading turnover not through competition, but through government regulation, — said the deputy.

This approach has pros and cons, he believes. On the one hand, exchanges accumulate a significant amount of price information, and regulators have a guideline in the form of an exchange price. On the other hand, the forced participation of sellers does not guarantee the availability of buyers, and the exchange does not assess the market's willingness to accept these goods, which creates the risk of an imbalance between supply and demand.

Photo: IZVESTIA/Sergey Lantyukhov

A striking example, he said, could be the cement market. A joint draft order of the Federal Antimonopoly Service of Russia and the Ministry of Industry and Trade of Russia on the withdrawal of some cement to the stock exchange is being coordinated. The obligation to sell on the stock exchange will appear, but against the background of a decrease in demand for building materials, the question remains whether buyers will come. The forecast for the industry for 2027-2029 indicates a negative trend, which increases the risks.

— The development of exchange trading is justified only with an individual approach to each commodity market. The straightforward introduction of mandatory sales can have a negative impact on production, jobs and technology development," the politician noted.

In the case of polymers and polyethylene, it is important that the FAS conduct a thorough analysis with the participation of the business community before making a decision.

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The FAS is considering the possibility of extending the mandatory exchange sales rules to polymers and polyethylene amid the rapid growth of plastic production in Russia, Sergey Grishunin, managing director of the NRA rating service, told Izvestia.

"In 2025, the production of five large polymers reached a record 8 million tons, and the commissioning of the Amur gas chemical complex in 2026 will add up to 3 million tons in the long term," he said.

Photo: RIA Novosti/Vitaly Timkiv

At the same time, domestic consumption remains lower than production. In 2025, it amounted to about 6.69 million tons, which is 2.3% less than in 2024. Consumption of polyethylene and polypropylene decreased by 4% to 4.3 million tons, while demand for PET increased by 7.1%.

The growing supply with relatively stagnant demand, according to the expert, makes the exchange mechanism relevant. For independent processors, a guaranteed exchange volume may be an opportunity, and the introduction of a 5-10% standard will create a transparent price indicator on SPIMEX and ensure access for small and medium-sized businesses to raw materials.

Photo: IZVESTIA/Sergey Lantyukhov

The main risks are related to the high technological specificity of polymers — more than 50 brands and specifications. Incorrect selection of stamps for mandatory sale can reduce the liquidity of trades.

— Producers will have to balance between domestic supplies and exports (1.2 million tons in 2025). The FAS must find a balance between supporting processors and maintaining the investment attractiveness of the industry, which may reach 12 million tons of production by 2030," said Sergey Grishunin.