13 May 2013 09:34 [Source: ICIS news]
SINGAPORE (ICIS)--Discussions for India’s locally produced 80/20 blend soap noodles containing 80% palm fatty acid distillate (PFAD) rose on the back of higher feedstock cost, sources said.
Strong demand during the week amid the typical seasonal peak period in May supported the price hikes, they added.
Local PFAD prices largely rose by Indian rupees (Rs) 2/kg (4 US cents/kg) to Rs36-37/kg EXW (ex-works) during the week on the back of tight supply.
Locally produced soap noodles were offered at around Rs46/kg EXW, Rs2/kg higher than the previous week.
“Demand is strong now… Local soap prices increase because of tight PFAD availability [resulting in] higher PFAD prices,” said an Indian-based soap noodle buyer.
According to ICIS data, domestic Indian soap noodle prices rose by Rs2/kg to Rs44-46/kg EXW on 10 May.
($1 = Rs54.81)
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