BASF to Increase Prices for Formic Acid and Propionic Acid

BASF SE said that its intermediates division will increase its selling prices in the EMEA region (Europe, Middle East and Africa) for the following products:

Product                                     Price increase

Propionic Acid                          + 150 €/metric tonne

Formic Acid 85 percent           + 250 €/mt

Prices for all other concentrations of formic acid will be increased accordingly on a pro rata basis.

Formic acid is a high-quality intermediate used in a broad range of applications. In animal nutrition, for example, it is used as a feed preservative. In leather processing, formic acid ensures the efficient fixing of dyes and retanning agents. Potassium formate, a salt of formic acid, is an environmentally acceptable and highly efficient de-icing agent used on roads and airport runways. Both formic acid and potassium formate are also used in the oilfield industry as part of the drilling and completion process, as well as in shale gas exploration. Moreover, formic acid is a powerful descaling agent.

Propionic acid is widely used in the production of pharmaceuticals, crop protection agents, solvents, food and feed preservatives and plastics.