Price for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in India - 2024
Contents:
- Price for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in India (CIF) - 2024
- Price for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in India (FOB) - 2022
- Imports of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in India
- Exports of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in India
Price for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in India (CIF) - 2024
In July 2023, the average import price for acids; saturated acyclic monocarboxylic acids; formic acids amounted to $879 per ton, waning by -10.3% against the previous month. Over the period from March 2023 to July 2023, it increased at an average monthly rate of +2.7%. The most prominent rate of growth was recorded in June 2023 when the average import price increased by 19% against the previous month. As a result, import price attained the peak level of $980 per ton, and then dropped in the following month.
There were significant differences in the average prices amongst the major supplying countries. In July 2023, the country with the highest price was Finland ($1,228 per ton), while the price for South Korea ($173 per ton) was amongst the lowest.
From March 2023 to July 2023, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+26.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in India (FOB) - 2022
In 2022, the average export price for acids; saturated acyclic monocarboxylic acids; formic acids amounted to $2,272 per ton, shrinking by -26.4% against the previous year. Over the period under review, the export price, however, recorded a resilient increase. The most prominent rate of growth was recorded in 2021 when the average export price increased by 282%. As a result, the export price reached the peak level of $3,089 per ton, and then contracted significantly in the following year.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Saudi Arabia ($5,636 per ton), while the average price for exports to Bangladesh ($705 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Sri Lanka (+7.2%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in India
Imports of acids; saturated acyclic monocarboxylic acids; formic acids into India totaled 41K tons in 2022, with an increase of 4.6% on the previous year. Over the period under review, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 20%. As a result, imports reached the peak of 48K tons. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.
In value terms, imports of acids; saturated acyclic monocarboxylic acids; formic acids shrank dramatically to $46M in 2022. Overall, imports showed a significant increase. The pace of growth was the most pronounced in 2021 with an increase of 136% against the previous year. As a result, imports reached the peak of $58M, and then fell significantly in the following year.
| Import of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 7.0 | 7.0 | 22.3 | 16.0 | 31.7% |
| Germany | 1.2 | 1.3 | 2.0 | 3.2 | 38.7% |
| Finland | 0.9 | 1.6 | 1.8 | 1.6 | 21.1% |
| Belgium | 0.6 | 1.2 | 0.8 | 0.8 | 10.1% |
| United States | N/A | 0.1 | 0.1 | 0.5 | 123.6% |
| Hong Kong SAR | 0.3 | 0.1 | 0.7 | 0.3 | 0.0% |
| Netherlands | 1.5 | 0.9 | 0.3 | 0.1 | -59.5% |
| Others | 12.0 | 12.3 | 29.5 | 23.1 | 24.4% |
| Total | 23.6 | 24.4 | 57.6 | 45.6 | 24.6% |
Top Suppliers of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid to India in 2022:
- China (15.5K tons)
- Germany (3.0K tons)
- Finland (0.9K tons)
- Belgium (0.7K tons)
- United States (0.4K tons)
- Hong Kong SAR (0.2K tons)
- Netherlands (0.1K tons)
Exports of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in India
In 2022, after two years of decline, there was significant growth in overseas shipments of acids; saturated acyclic monocarboxylic acids; formic acids, when their volume increased by 31% to 527 tons. Overall, exports, however, showed a sharp setback.
In value terms, exports of acids; saturated acyclic monocarboxylic acids; formic acids declined modestly to $1.2M in 2022. Over the period under review, exports, however, showed a noticeable reduction. The most prominent rate of growth was recorded in 2021 when exports increased by 204% against the previous year.
| Export of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in India (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Arab Emirates | 81.0 | 3.7 | 41.4 | 223 | 40.2% |
| Bangladesh | 44.9 | 69.1 | 104 | 143 | 47.1% |
| Nepal | 41.3 | 29.3 | 49.5 | 70.7 | 19.6% |
| Ethiopia | 27.6 | 12.0 | 31.9 | 21.1 | -8.6% |
| Germany | N/A | N/A | N/A | 17.4 | 0% |
| Sri Lanka | 3.1 | 6.5 | 0.3 | 10.9 | 52.1% |
| Vietnam | N/A | N/A | N/A | 6.1 | 0% |
| Egypt | 0.1 | 0.9 | 275 | 1.1 | 122.4% |
| Belgium | N/A | N/A | 71.9 | N/A | 0% |
| Iran | 411 | N/A | N/A | N/A | 0% |
| Others | 698 | 287 | 668 | 705 | 0.3% |
| Total | 1,307 | 408 | 1,242 | 1,198 | -2.9% |
Top Export Markets for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid from India in 2022:
- Bangladesh (202.7 tons)
- United Arab Emirates (168.1 tons)
- Nepal (70.5 tons)
- Germany (21.1 tons)
- Ethiopia (18.3 tons)
- Sri Lanka (9.2 tons)
- Vietnam (8.4 tons)
- Egypt (0.5 tons)
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