For the Quarter Ending June 2022
North America
In North America, the price of Erucic Acid fluctuated throughout the Q2 of 2022, backed by mixed market sentiments. In the first half of Q2, the prices decreased due to a decrease in demand from the downstream industries. High inventories are present in the market, leading to a decrease in price, and ample stock is available to feed the consumer's needs. Moreover, in the second half of Q2, the prices were upward in the second month of the quarter due to limited stock and high consumption from the consumer's end. While in the second month, the prices were lowered again due to high inventories of raw materials, Rapeseed oil in the market, and the input cost also declined.
Asia Pacific
In Asia-Pacific Region, the price of Erucic Acid fluctuated throughout the Q2 of 2022, owing to mixed market sentiments. In the first half of Q2, the prices increased in the market in South Korea due to low inventories. The demand from the end-use industries was also high, especially from the lubricants and biofuels sectors, and the product unavailability triggered the market pressure for the product. Moreover, in the second half of Q2, the prices increased in India in the second month due to demand from the lubricants industries. Moreover, in the last month of the quarter, the prices were lowered in the domestic markets of India due to the surplus availability of the raw materials that is rapeseed oil.
Europe
In Europe, the price of Erucic Acid fluctuated throughout the Q2 of 2022 due to the unpredictable market dynamics. In the first half of Q2, the prices were increased in the first month due to high demand from the end-use industries, including plastics, lubricants, lacquers, and detergents. However, the prices were on a downward trajectory in the second month of the quarter, backed by a consistent increase in price, thus, decreasing the demand. Moreover, in the last month of the quarter, the prices increased due to the high input cost and the rise in raw materials, mainly rapeseed oil. Thus, the price of the product remained fluctuated throughout the quarter.
