There is a clear and persistent regional pricing hierarchy that structurally disadvantages buyers in Malaysia compared to those in China and Vietnam:

Highest Costs for Malaysian Buyers: The CFR SEA Non-Dutiable index (green line) consistently tracks as the most expensive resin on the chart for the entire 4.5-year period. This index represents the duty-free or local/intra-ASEAN market price for Southeast Asian buyers, including Malaysia. In early 2026, this cost disadvantage peaked severely when the SEA Non-Dutiable price spiked to nearly $1,800/Ton.

China’s Cost Advantage: Competitors in China are securing raw materials at the CFR China All Origins rate (blue line). This line is strictly and consistently the lowest price tier on the chart, frequently hovering hundreds of dollars cheaper per ton than the SEA Non-Dutiable rate.

Vietnam’s Middle Ground: Competitors in Vietnam (yellow line) are also sourcing resin at notably lower base costs than the SEA Non-Dutiable rate. The Vietnam index largely mirrors the lower CFR SEA Dutiable index.