Low Europe etac prices deter some importers

31 January 2014 17:42 Source:ICIS News

LONDON (ICIS)--Relatively low prices for ethyl acetate in Europe are encouraging some importers to sell to other regions instead, participants said on Friday.

Many importers are now faced with an increased European import duty.

Additionally, Indian producers also face high feedstock costs.

An Indian producer of etac said: “[Feedstock] acetic acid [prices] in Asia has increased, ethanol [prices] has increased, what we're doing is, Indian producers are selling etac in Asia, the Middle East, Africa.... They get much better pricees there. In Europe prices are too low.”

An Indian distributor said: “There are better prices in Korea and in the Middle East. Indians are selling less to Europe, more elsewhere.”

A second distributor agreed: “There’s less Indian material coming into Europe, [there are] better prices elsewhere.”

By Jo Pitches