Ethyl Acetate prices remained stable to lower end this week with fluctuation in feedstock prices in India

In India, the prices of Ethyl Acetate were observed to be $1159/ton Ex-Kandla and $1186/ton Ex-Mumbai. Feedstock Methanol prices were also slowed down this week where the prices were hovering around $401/ton Ex-Mumbai to $468/ton Ex-Mumbai. Acetic acid prices also slowed down on 18^th Feb and the prices were observed to be $810/ton Ex-Kandla with the declination of 5.76%.

The prices of Ethyl Acetate were stable to the lower end due to weak trading atmosphere and saturation of product in the regional market. The supply is very abundant at the moment, but the demand is not strong. Also, government had cut production tax on certain chemicals namely Acetic acid, Methanol which slows down the prices in the domestic market. Upstream Natural Gas prices were surged with geopolitical tension between Russia and Ukraine, stocks of Indian organizations with exposure to Europe fell in the midst of concern about the effect on their sales on the off chance that the Russia-Ukraine crisis worsens, and the US and its allies impose financial authorizations on Russia.

According to ChemAnalyst, the prices of Ethyl Acetate in Indian market is expected to increase with increasing Natural Gas prices and energy values. Feedstock Methanol and Acetic acid prices will more likely to surge as the supply shortage of Natural Gas and surging crude will eventually affect the Indian Petrochemical market. Natural Gas prices are also expected to surge in the market as the supply shortage will create the supply-demand gap which will hamper the prices. Exports of Ethyl acetate from India to European countries like Belgium, Russia will increase. The market trading will improve and the demand from the downstream enterprises will surge. Paint and Lacquer industries will operate moderately fulfilling the consumer’s demand.