BASF increases propionic prices in Europe and Asia
BASF has announced a price increase in Europe and Asia for propionic acid – a widely used ingredient across a raft of sectors including food, plastics and pharmaceuticals.
The German-based giant said it would be raising prices for propionic acid in Europe by €200 a ton and in Asia by US$200 per ton.
The increase in tariffs was effective immediately, or as existing contracts permitted, said the company.
BASF is a leading supplier of propionic acid with facilities at Ludwigshafen, Germany, and Nanjing, China.
Propionic acid is used in the production of food preservatives, plastics and pharmaceuticals. However its major application is in feed grain preservation.