ICIS launches a new 2-ethylhexanol (2-EH) CFR India (subject to import duty) spot assessment

Overview:

ICIS has launched a new 2-ethylhexanol (2-EH) CFR India (subject to import duty) spot assessment. This reflects changing trade flows showing an increase in market share of deep-sea cargoes from regions such as Saudi Arabia, Europe, and the US to India.

Imports from these regions are subject to an import duty of 8.25%.

The new assessment was introduced following feedback from industry participants in India and replaces the previous quote, which assessed imports of 2-EH – a key feedstock for plasticizers – on a duty-exempt basis.

Spot cargoes originating from ASEAN (Association of south east Asian countries), which are exempt from import duties, are declining due to the permanent closure of a Singapore facility at the end of 2020.

With no new capacities on the horizon in the near term, buyers in India are likely to increasingly turn to deep-sea cargoes to fulfil their requirements.

The new dutiable assessment will allow producers to decide which markets provide better netbacks, as the existing ICIS 2-EH CFR East Asia spot assessment also reflects spot cargoes which are subject to import duties.

 
 

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