Asia C14 myristic acid prices stable despite low feedstock prices

11 July 2011 07:40  [Source: ICIS news]

SINGAPORE (ICIS)--Asia’s C14 myristic acid prices have been stable for five consecutive weeks despite weakening feedstock crude palm kernel oil (CPKO) prices, regional fatty acids producers said on Monday.

The prices of C14 myristic acid have been stable at $3,450-3,550/tonne (€2,415-2,485/tonne) FOB (free on board) SE (southeast) Asia since 8 June, according to ICIS data.

“C14 prices are not following CPKO prices as compared with other acid groups as steady demand is helping to support current prices,” a Malaysian fatty acids producer said.

“Moreover, downstream isopropyl myristic (IPM) ester demand is stable as cosmetics production is at a high this quarter,” a Japanese fatty acids trader added.

The third quarter of the year is the traditional peak demand period for the production of cosmetics.

Prices of CPKO fell from $1,895/tonne FOB Malaysia on 8 June to $1,288/tonne FOB Malaysia on Monday morning, down by $607/tonne FOB.

($1 = €0.70)

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By: Serena Seng

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