Glycerine Prices Wind Down Along with Edible Oil in Asian Market
- 23-Jun-2022 8:25 AM
- Journalist: Jai Sen
New Delhi, India- Edible oil consumers heard some positive bells recently as the market prices of all edible oils slipped in the Indian market. Adani Wilmar, one of the largest oil producers, cut the prices of edible oils, easing the concern of Glycerine manufacturers in the Asia-Pacific Market. This strategic action will showcase its proportional impact on the market dynamics of Glycerine by slumping the prices of the same in the regional market.
The prices of edible oils have been burgeoning for the past few months, especially after the initiation of military action between Russia and Ukraine. The crisis of feed and colossal demand from major manufacturers added to the factors influencing the increased prices of Glycerine in the regional market. India's government officials reduced the tax on edible oil imports, making it easier for domestic glycerine manufacturers. Notable oil producers such as Adani Wilmar, Mother Dairy, Emami Agrotech, and more have already slashed the prices of their edible oils governing the market dynamics of Glycerine in the Indian market.
According to the ChemAnalyst resources, the critical factor responsible for the decline in Glycerine prices in the upcoming days is the smooth availability of the feed palm from major supplying countries such as Indonesia and Malaysia. Smooth feed transportation from suppliers relaxed the Glycerine producers leading to diminished production costs in the Indian market. Palm oil and coconut oil are the primary feed for Glycerine production, and any variation in the prices of these raw materials directly impacts the prices of Glycerine. Moreover, the prolonged demand from end-use businesses, specifically in cosmetics, personal care, and food sectors, governed the market sentiments of Glycerine in the regional market.
According to ChemAnalyst, the price trend of Glycerine will continue to remain stagnant in upcoming weeks owing to the sluggish prices of feed in the Asia Pacific market. Availability of supply in ample quantity with the manufacturer will contribute to a higher yield of the product to fulfill the demand from consumers, influencing the market sentiments of Glycerine in the Asia Pacific region.