For the Quarter Ending March 2026
Tall Oil Prices in APAC
- In China, the Tall Oil Price Index fell 1.13% quarter-over-quarter, reflecting balanced imports and paused spot buying.
- The average Tall Oil price for the quarter was approximately USD 2486.67/MT, reflecting CFR Shanghai trade.
- Tightening feedstock reduced Tall Oil Spot Price momentum while the near-term Tall Oil Price Forecast remains bullish.
- Energy and freight dynamics supported Tall Oil Production Cost Trend increases, pressuring import parity and margins.
- Domestic restocking improved the Tall Oil Demand Outlook, lifting the Price Index as downstream offtake steadied.
- Export scheduling and Scandinavian maintenance tightened arrivals, elevating Tall Oil Spot Price volatility and shipping-driven premiums.
- Alkyd, ink, and adhesive producers sustained consumption, underpinning Tall Oil Price Index resilience amid softer freight swings.
- Exporters kept disciplined CFR offers, supporting the Tall Oil Price Forecast while inventories remained modestly manageable.
Why did the price of Tall Oil change in March 2026 in APAC?
- Scandinavian and US export cuts tightened feedstock availability, raising import parity and Tall Oil costs.
- Renminbi weakness increased dollar-denominated import costs, partially offsetting lower container freight savings for buyers here.
- Sustained downstream restocking ahead of construction season raised demand, tightening available inventories and supporting prices.
Tall Oil Prices in Europe
- In Finland, the Tall Oil Price Index fell by 2.36% quarter-over-quarter, reflecting slightly weaker export enquiries.
- The average Tall Oil price for the quarter was approximately USD 2509.33/MT based on FOB levels.
- Balanced pulp-mill output preserved feedstock flows while Tall Oil Spot Price showed limited directional movement.
- Updated Tall Oil Price Forecast signals modest softening in the quarter, then gradual firming as summer procurement resumes.
- Tightening in steam and hydrogen costs drove a mild Tall Oil Production Cost Trend upward, pressuring margins.
- Domestic biofuel demand under RED-supported volumes; the Tall Oil Demand Outlook remains regionally constructive yet export-sensitive.
- Finnish inventories stayed adequate, and the Tall Oil Price Index reflected modest volatility amid disciplined exporter offers.
- Distillation units operated reliably, limiting shipping delays while exporters adjusted FOB offers to match dampened continental enquiries.
Why did the price of Tall Oil change in March 2026 in Europe?
- Export availability tightened as some crude barrels were diverted to domestic renewable diesel units.
- Higher EU carbon pricing lifted steam and hydrogen costs, marginally increasing local Tall Oil production expenses.
- Firm overseas biodiesel demand outpaced modest supply, enabling sellers to secure higher FOB offers.
Tall Oil Prices in North America
- In the USA, the Tall Oil Price Index fell by 1.3% quarter-over-quarter, reflecting a comfortable domestic supply and muted enquiries.
- The average Tall Oil price for the quarter was approximately USD 709.33/MT based on FOB Houston quotations and terminal inventories.
- Elevated inventories kept Tall Oil Spot Price pressure intact while steady rail and barge logistics supported export loadings.
- Tall Oil Price Forecasts implied modest near-term softening followed by gradual recovery driven by restocking.
- Upward Tall Oil Production Cost Trend from firmer sulfuric-acid and natural-gas inputs improved producers' pricing power marginally.
- Tall Oil Demand Outlook reflected stronger export enquiries and renewable-diesel blending interest, tightening availability for chemical customers.
- Tall Oil Price Index remained range-bound as sustained mill operations and near-average terminal stocks balanced upward pressure.
- Exporters managed liftings carefully, supporting firm FOB offers while traders adjusted Tall Oil Price Forecasts for seasonal demand.
Why did the price of Tall Oil change in March 2026 in North America?
- March tightening reflected stronger European and biofuel demand against ample domestic production and balanced stocks.
- Higher sulfuric-acid and natural-gas input costs nudged processing expenses upward, supporting price increases in March.
- Uninterrupted Gulf Coast logistics allowed exports, amplifying European buying impact and tightening available FOB cargoes.
For the Quarter Ending December 2025
North America
• In the USA, the Tall Oil Price Index fell by 5.64% quarter-over-quarter, reflecting export weakness and ample domestic supply.
• The average Tall Oil price for the quarter was approximately USD 2480.00/MT, reflecting subdued export and domestic demand.
• Tall Oil Spot Price softened amid narrow arbitrage to Europe and Canada, enabling buyers to extract small concessions.
• Tall Oil Price Forecast anticipates modest volatility in the near term as restocking and biodiesel blending influence export flows.
• Tall Oil Production Cost Trend remained stable with sulfuric acid and natural gas costs largely unchanged, limiting upside.
• Tall Oil Demand Outlook shows muted biodiesel procurement but steady oleochemical and resin consumption supporting a pricing floor.
• Tall Oil Price Index movement tracked higher inventories and softer export inquiries, constraining sellers from firming offers significantly.
• Inventory levels in Houston remained comfortable while Gulf Coast mills ran steady, allowing continuous FOB shipments to be maintained.
Why did the price of Tall Oil change in December 2025 in North America?
• Ample Southeast kraft pulp production maintained a robust supply, preventing significant domestic price recovery during December.
• Stable input costs for sulfuric acid and natural gas contained production expenses, reducing cost-push upward pressure.
• Narrowed export arbitrage and subdued European inquiries lowered spot bids, enabling sellers to concede marginally in December.
APAC
• In China, the Tall Oil Price Index fell by 5.57% quarter-over-quarter, reflecting softer import demand.
• The average Tall Oil price for the quarter was approximately USD 2515.00/MT, reflecting subdued seaborne supply.
• Tall Oil Spot Price remained pressured as Price Index tracked steady imports and softer consumption.
• Tall Oil Price Forecast points to marginal declines as adequate imported feedstock moderates replacement costs.
• Tall Oil Production Cost Trend eased due to lower CTO feedstock offers and stable freight.
• Tall Oil Demand Outlook remains weak near-term as alkyd resin and biodiesel offtake stays subdued.
• Tall Oil Price Index volatility is limited by ample inventories and timely shipments, restraining seller leverage.
• Export demand softened while East-China processors operated at moderate rates, keeping short-term market sentiment cautious.
Why did the price of Tall Oil change in December 2025 in APAC?
• Improved CTO import availability reduced replacement costs, increasing supply and pressuring the Tall Oil Price Index.
• Moderate downstream offtake from alkyd resin and biodiesel weakened demand, damping Tall Oil Spot Price.
• Stable freight and fluid port operations reduced logistical premiums, enabling importers to negotiate softer offers.
Europe
• In Finland, the Tall Oil Price Index fell by 3.69% quarter-over-quarter, reflecting abundant supply pressures.
• The average Tall Oil price for the quarter was approximately USD 2570.00/MT; buyers remained selective.
• Tall Oil Spot Price weakened as pulp mill output and competitive export offers pressured bids.
• Tall Oil Price Index softened as biodiesel demand eased and inventories in hubs remained ample.
• Tall Oil Demand Outlook appears muted with biodiesel restarts delayed and downstream restocking remaining subdued.
• Tall Oil Production Cost Trend stayed contained with low-carbon electricity and steady feedstock, limiting costs.
• Tall Oil Price Forecast indicates mild softness followed by stabilization as selective restocking supports prices.
• Export inquiries softened, Helsinki loadings efficient, sellers offered discounts, pressuring the Tall Oil Price Index lower.
Why did the price of Tall Oil change in December 2025 in Europe?
• Abundant pulp mill extraction kept TOFA supplies ample, reducing scarcity premiums and pressuring benchmark pricing.
• Biofuel plant maintenance and quota fulfilment curtailed biodiesel offtake, softening demand for Finnish FOB cargoes.
• Comfortable inventories, efficient Helsinki port loadings, and competitive export offers allowed sellers to concede discounts.
For the Quarter Ending September 2025
North America
• In the USA, the Tall Oil Price Index fell by 6.9% quarter-over-quarter, reflecting oversupply, weaker Chinese demand.
• The average Tall Oil price for the quarter was approximately USD 2628.33/MT, FOB Houston, reported.
• Export-driven drawdowns tightened availability in July, supporting a partial Tall Oil Spot Price recovery despite August rebalancing.
• Tall Oil Price Forecast indicates modest volatility into Q4 as seasonal restocking competes with improved export normalization.
• Freight and handling increases lifted the Tall Oil Production Cost Trend, compressing supplier margins during the rally.
• Tall Oil Demand Outlook remains cautious as biodiesel blenders and adhesives sectors manage inventories conservatively into autumn.
• Inventory rebuilds and lower Chinese imports eased the Tall Oil Price Index downward through August, signaling stabilization.
• Suppliers paced offers amid steady kraft mill production, with export timing and logistics determining short-term availability immediately.
Why did the price of Tall Oil change in September 2025 in North America?
• Reduced Asian export demand allowed U.S. inventories to rebuild, removing price pressure on Tall Oil.
• Easing freight rates and normalized schedules lowered landed costs, prompting sellers to reduce offers materially.
• Weak downstream procurement and strategic destocking suppressed spot buying, amplifying downward price momentum into September.
APAC
• In China, the Tall Oil Price Index fell by 8.89% quarter-over-quarter, due to weak downstream demand.
• The average Tall Oil price for the quarter was approximately USD 2663.33/MT, per CFR Shanghai market assessment.
• Tall Oil Spot Price eased as logistics normalized and Price Index reflected lower landed costs.
• Tall Oil Price Forecast shows modest monthly swings driven by shipping, tariffs, and seasonal consumption.
• Tall Oil Production Cost Trend improved as freight and surcharges receded, lowering landed import costs.
• Tall Oil Demand Outlook remains cautious with restocking cycles intermittently supporting domestic Price Index movements.
• Inventory overhang curtailed buying, while export demand recovery could tighten supplies and lift Price Index.
• Operational constraints at some exporters supported spot premiums, stabilizing Tall Oil Spot Price and confidence.
Why did the price of Tall Oil change in September 2025 in APAC?
• Normalized shipping and eased port congestion increased imports, expanding supply and pressuring domestic Price Index.
• Downstream purchasing cooled after restocking, reducing demand pull and weakening Tall Oil Spot Price momentum.
• Falling freight surcharges lowered landed costs, enabling seller discounts and moderating the Price Index decline now.
Europe
• In Finland, the Tall Oil Price Index rose by 1.27% quarter-over-quarter, driven by restocking and tightened availability.
• The average Tall Oil price for the quarter was approximately USD 2668.33/MT, based on FOB Helsinki quotations and trade volumes.
• Tall Oil Spot Price firmed in July and August as restocking reduced available volumes and tightened supply.
• Tall Oil Price Forecast suggests modest volatility, with intermittent upward corrections driven by restocking and seasonal demand.
• Tall Oil Production Cost Trend remained stable as feedstock and processing expenses showed no significant inflationary pressures.
• Tall Oil Demand Outlook improved due to stronger activity in adhesives and alkyd resin sectors, supporting purchases.
• Price Index movements reflected exporters liquidating older inventories, increasing competitive offers and pressuring average quotations.
• Export demand recovery was uneven; major Finnish producers operated steadily while inventory destocking supported milder upward pressure.
Why did the price of Tall Oil change in September 2025 in Europe?
• Tighter available volumes following prior destocking reduced immediate supply, supporting upward price momentum in September.
• Robust restocking across adhesives and resin sectors increased procurement urgency, lifting regional offtake and prices.
• Euro depreciation enhanced export competitiveness, while stable production and logistics constraints tightened market balance further.
For the Quarter Ending June 2025
North America
• In April 2025, the Tall Oil Price Index (FOB Houston) stood at USD 2870/MT, rising sharply due to strong demand from rubber, surfactants, and adhesives industries amid high input costs and trade-related production burdens.
• Tightening domestic availability and a shift toward renewable diesel elevated the product demand outlook significantly in April.
• Increased input prices and logistic tariffs pushed up the product production cost trend, intensifying bullish sentiment.
• Spot price transactions surged as buyers accelerated procurement to avoid future shortages.
• In May, the Price Index rose further by +2.09% m-o-m to USD 2930/MT, following China's mid-month tariff reductions that boosted U.S. exports and tightened domestic supply.
• Rebounding U.S. manufacturing further supported local Tall Oil demand, improving the product price forecast for Q2.
• However, June witnessed a steep -8.87% decline, with prices dropping to USD 2670/MT due to falling Chinese import interest, high inventories, and demand hesitation.
• Oversupply and lower downstream activity forced sellers to offer discounts, weakening the product demand outlook.
• Many distributors entered a destocking cycle, delaying restocks due to pricing uncertainty and freight shifts.
• In July 2025, the Price Index is likely to increase as spot price activity rebounds and seasonal demand triggers stockpiling across key Tall Oil derivative sectors.
APAC
• In April 2025, the Tall Oil Price Index surged by +9.52%, reaching USD 2990/MT, driven by a 34% tariff imposed on U.S. imports which tightened domestic supply and elevated the product spot price.
• April’s tariff disruption forced Chinese buyers to explore higher-cost alternatives, increasing the product production cost trend amid steady demand from adhesives and oleochemical sectors.
• The product demand outlook remained firm in April as restocking activity accelerated in anticipation of prolonged trade friction and supply uncertainty.
• In May 2025, the Price Index climbed further by +3.01% to USD 3080/MT, with Chinese importers fast-tracking purchases during a 90-day tariff suspension before its expiry on August 14.
• Soaring container spot rates, reduced vessel availability, and frontloading led to higher landed costs, further lifting the product spot price and sustaining the bullish product price forecast.
• May demand rose across adhesives, inks, and resin applications, with buyers securing stocks ahead of anticipated freight surcharges and policy shifts.
• In June 2025, the Tall Oil Price Index dropped by −12.34% to USD 2700/MT, as earlier overbuying inflated port inventories and dampened market sentiment.
• The overhang of supply and softer procurement drove down landed costs, softening the product production cost trend and leading to price corrections.
• Weakened June demand across coatings, soaps, and oleochemicals showed a wait-and-watch strategy, tempering the short-term product demand outlook.
• In July 2025, the Price Index is likely to increase again as Chinese buyers rush to finalize bulk purchases before the August tariff reinstatement, with potential port congestion further tightening effective availability.
Europe
• In April 2025, the tall oil Price Index in Finland rose by 3.25% month-on-month, reaching USD 2700/MT, driven by heightened product demand outlook from Asia and Europe, especially in renewable chemicals and industrial resins.
• Limited logistics capacity, seasonal delays, and lean inventories constrained exports, creating an imbalance that intensified the upward movement in the product spot price for tall oil.
• Despite stable production, April saw weakened forward visibility, encouraging traders to adopt cautious inventory strategies amid volatile product production cost trend considerations.
• May 2025 saw a 2.59% decrease in the Price Index, as frontloaded procurement in April led to subdued export orders from major buyers in Sweden and the Netherlands.
• Although Finnish suppliers maintained high output and inventories, weak downstream demand and ample buyer stockpiles triggered aggressive price cuts to maintain liquidity.
• The product demand outlook in May dimmed, especially in adhesives, inks, and resins sectors, as European processors had already fulfilled their seasonal requirements.
• By June 2025, the Price Index dipped another 2.09% to USD 2575/MT, pressured by ongoing oversupply and weak international demand, especially in the alkyd resin and ink segments.
• End-of-quarter inventory clearances and a wait-and-watch approach by overseas buyers intensified selling pressure, pulling down the product spot price further.
• The product price forecast for July 2025 suggests a modest recovery, as June’s liquidation helped reduce inventory backlogs, allowing Finnish producers to stabilize margins and raise quotes slightly.
• With supply pressure easing and competitive intensity reduced, the Finnish tall oil Price Index is likely to increase in July 2025, marking a potential turnaround in market sentiment.
