TAIPEI (Taiwan News) — Vice Premier Cheng Li‑chun (鄭麗君) said the government has stepped up measures to stabilize prices amid the war in Iran, targeting petrochemicals, natural gas, and plastics to help ease impacts on industry and households, CNA reported on Thursday.
The conflict has affected petrochemical feedstock supplies and the manufacturers that rely on them to produce plastic products. Some domestic plastic makers are unable to secure materials, while others face uncertain delivery schedules from upstream suppliers, leading to price increases for certain products.
To address this, the Ministry of Economic Affairs said it has coordinated with domestic petrochemical suppliers, including Formosa Plastics, to prioritize domestic supply and halt exports. The Ministry of Justice has also started investigations into large-scale hoarding and price gouging, warning that legal action will follow if such cases are found.
At a Thursday Cabinet meeting, Cheng said the government will set up an online platform allowing plastic, packaging, and medical product makers to report material shortages. The government will use these reports to help coordinate supplies to affected businesses.
Taiwan’s natural gas supply is secure through May, Cheng noted. Starting in June, the government will expand imports from Australia, the US, and Papua New Guinea to reduce reliance on Middle Eastern sources.
Cheng noted that CPC Corp. will not raise household natural gas or bottled gas prices in April. The economics ministry added that it will coordinate with Formosa Petrochemical to keep its bottled gas prices unchanged.
Helium is used in cooling and leak detection during semiconductor manufacturing. Cheng called on the economics ministry to help domestic gas suppliers increase helium imports from the US and Australia. She also urged local chipmakers to strengthen helium recycling.
Agriculture Minister Chen Jun-ji (陳駿季) said Taiwan’s fertilizer materials come from the Middle East, Southeast Asia, and Australia. Supplies of nitrogen fertilizer are expected to last until August, and potassium fertilizer until October.
Chen added that the ministry will monitor domestic fertilizer prices. If import shipping costs for materials rise, the ministry plans to absorb the extra expenses to help keep fertilizer prices stable.
