BASF seeks price hike for propionic, 2-ethylhexanoic acid

16 March 2005 12:18  [Source: ICIS news]

LONDON (CNI)--German chemicals company BASF said Wednesday it will be seeking global price increases for propionic acid and 2-ethylhexanoic acid with immediate effect or as contracts allow. 

 

The increases are due to higher costs and unsatisfactory margins, the company said in a statement.

 

In Europe, BASF will seek a rise of Euro70/tonne for propionic acid and Euro100/tonne for 2-ethylhexanoic acid.

 

In North America, BASF will target a $90/tonne increase on propionic acid, while the company will be seeking an increase of $80/tonne for the same product in Asia and South America.

 

Price rises of Euro130/tonne for 2-ethylhexanoic acid will be sought in North America, Asia and South America.

 

Nobody was available at BASF to comment on current price levels or to quantify the increases in percentage terms.

 

Propionic acid is used in feed preservation and various applications in the chemical segment; 2-ethylhexanoic acid is a chemical intermediate for a number of industrial applications.

By: Hilde Ovrebekk
+44 20 8652 3214

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