1) India's petrochemical markets have been negatively impacted by the rapid decline of the Indian rupee against the US dollar. Polymer demand has been hit hardest as import costs have increased for Indian buyers. 2) Middle East polymer exporters who typically sell surplus products to India are now struggling as Indian buyers back away due to the weaker rupee. Some exporters have had to redirect cargoes to markets in Africa instead. 3) Price spreads between CFR South Asia and CFR Northeast Asia benchmarks have narrowed significantly for polymers like polypropylene and polyethylene as Indian demand has weakened relative to other Asian markets.