Acrylic Acid Shipments Delay as Coronavirus Wrecks Trade in India
- Journalist: Jaideep
The beginning of 2020 will be remembered as a period of historic disruption to physical supply chains throughout the world, as the outbreak of coronavirus has put an indelible impact on the global economy. China is a huge hub for the global material movement and because the containers are stuck in the country, there are not enough supplies left with the Indian traders. China has been the largest exporter of Acrylic Acid to India as of FY19. The delay in overall shipments of the commodity has caused an acute supply shortage in the domestic market, thereby forcing the local suppliers to increase the prices significantly. Domestic Acrylic Acid prices have risen by 1.12 per cent and have touched INR 90 per kg in the first week of March in response to the current situation. Acrylic acid is mainly used in manufacturing superabsorbent polymers. It is also used for producing acrylic esters such as Methyl Acrylate, 2-Ethyl Hexyl Acrylate, Ethyl Acrylate and Butyl Acrylate and. As per the local traders, the prices may rise further if the shipment delay continues for long and the restrictions imposed are not eased.