For the Quarter Ending December 2025
North America
• In the USA, the Tall Oil Rosin Price Index rose by 4.8% quarter-over-quarter, driven by import delays.
• The average Tall Oil Rosin price for the quarter was approximately USD 949.67/MT, based on contracts.
• Reduced parcel arrivals tightened Gulf inventory, elevating Tall Oil Rosin Spot Price and encouraging immediate dealer restocking.
• Near-term Tall Oil Rosin Price Forecast factors freight and seasonality, projecting modest firmness absent major supply changes.
• Trucking surcharges raised the Tall Oil Rosin Production Cost Trend, increasing landed-cost assumptions for Gulf buyers.
• Steady consumption in adhesives and road-marking keeps the Tall Oil Rosin Demand Outlook supportive for purchases.
• Moderate stocks and smooth port operations stabilized the Tall Oil Rosin Price Index in December regionally.
• Proactive buyer stocking ahead of seasonal projects supported seller pricing power, reinforcing tighter spot and contract negotiations.
Why did the price of Tall Oil Rosin change in December 2025 in North America?
• Late Scandinavian shipments reduced Gulf import volumes, tightening supply and elevating landed-costs across regional terminals.
• Pre-holiday logistics congestion and ISO-tank trucking surcharges materially increased delivered costs, enabling sellers to raise offers.
• Consistent adhesives and road-marking demand absorbed limited spot availability, preventing significant downward pressure on prices.
APAC
• In India, the Tall Oil Rosin Price Index rose by 6.19% quarter-over-quarter, reflecting tighter import supply and higher freight.
• The average Tall Oil Rosin price for the quarter was approximately USD 1286.71/MT and reflected higher landed costs.
• Indian Tall Oil Rosin Spot Price strengthened as shipping-congestion and Nordic supply constraints tightened available import volumes.
• Tall Oil Rosin Price Forecast anticipates modest near-term volatility as freight, duty, and seasonal demand affect parity.
• Observed Tall Oil Rosin Production Cost Trend increased due to elevated freight surcharges and steady customs duty impacts.
• Tall Oil Rosin Demand Outlook remains firm with adhesives, printing inks, and road-marking paint sectors sustaining offtake.
• Traders monitored the Tall Oil Rosin Price Index against global FOB movements and thin port inventories impacting parity.
• Importers held lean stocks, supporting sustained Tall Oil Rosin Price Index gains amid allocation prioritisation and delayed arrivals.
Why did the price of Tall Oil Rosin change in December 2025 in APAC?
• Lower crude tall oil output Northern European mills reduced export allocations, elevating landed costs.
• Fourth-quarter container shortages and elevated freight surcharges increased CIF values, pressuring replacement pricing at Indian ports.
• Thin domestic inventories alongside steady downstream procurement allowed suppliers to pass increased logistics and duty costs.
Europe
• In Europe, the Tall Oil Rosin Price Index showed moderate firmness during the quarter ending December 2025, supported by tight import availability and active downstream demand in adhesives and road-marking sectors.
• Tall Oil Rosin Spot Price strengthened as Northern European shipments were limited, while distributors managed lean inventories, encouraging prompt purchasing.
• The Tall Oil Rosin Price Forecast indicates modest near-term volatility, with freight, duty, and seasonal demand expected to influence market movements.
• The Tall Oil Rosin Production Cost Trend saw upward pressure due to elevated trucking surcharges, port handling fees, and customs duty impacts across key import hubs.
• The Tall Oil Rosin Demand Outlook remains constructive, supported by steady consumption in adhesives, printing inks, and road-marking paint applications.
• Lean distributor and port inventories reinforced seller pricing power, sustaining a stable Price Index despite limited spot availability.
• Export allocations from Northern Europe and Scandinavia limited merchant availability, tightening supply at major Western European terminals.
• Seasonal project activity and proactive buyer restocking ahead of year-end holidays provided additional support to market firmness.
Why did the price of Tall Oil Rosin change in December 2025 in Europe?
• Reduced shipments from Northern European mills and allocation limits tightened import availability, supporting the Price Index.
• Elevated logistics costs, including trucking surcharges and port handling fees, increased landed-cost assumptions, allowing sellers to maintain firmness.
• Consistent downstream demand from adhesives, printing inks, and road-marking projects absorbed available supply, preventing significant downward pressure on spot offers.
For the Quarter Ending September 2025
North America
• In the United States, the Tall Oil Rosin Price Index rose 7.54% quarter-over-quarter due to firmer imports, in Q3 2025.
• The average Tall Oil Rosin price for the quarter was approximately USD 1003/MT, reflecting balanced demand and importer costs.
• Tall Oil Rosin Spot Price rose alongside a firmer Price Index due to supply tightness.
• Tall Oil Rosin Price Forecast remains cautiously firmer on expected import costs and sustained downstream pull.
• Tall Oil Rosin Production Cost Trend shows pressure from upstream tall oil costs and logistics; margins compress.
• Tall Oil Rosin Demand Outlook remains robust in adhesives and coatings but seasonal moderation could temper buy cycles.
• Tall Oil Rosin Price Index reflects mixed regional demand and imported cost pressures, guiding near-term offers.
• Tall Oil Rosin Spot Price volatility tied to Brazil supply and freight costs continuing to influence.
• Tall Oil Rosin Production Cost Trend signals potential easing as pulping runs normalize, aiding price stability.
Why did the price of Tall Oil Rosin change in September 2025 in North America?
• Supply constraints from Brazil reduced import availability, elevating landed costs and supporting firmer prices overall.
• Healthy downstream demand for adhesives and coatings provided continued consumption resilience despite seasonal activity levels.
• Logistics and freight volatility contributed to higher import costs and cautious procurement by buyers overall.
APAC
• In India, the Tall Oil Rosin Price Index rose by 8.80% quarter-over-quarter, reflecting firmer export offers and elevated upstream costs.
• The average Tall Oil Rosin price for the quarter was approximately USD 1211.70/MT CFR JNPT India.
• Tall Oil Rosin Spot Price remained sensitive to monsoon demand and import parity, influencing Price Index dynamics.
• Tall Oil Rosin Price Forecast suggests firming in Q4, supported by tight feedstock supply and Price Index support.
• Production Cost Trend remains elevated due to energy inputs, placing upward pressure on the Price Index.
• Demand Outlook for adhesives and coatings supports steady buying, contributing to a firmer Price Index.
• Spot Price moves tracked by ports remain linked to currency volatility, shaping the Price Index.
• Demand Outlook remains cautious amid monsoon delays, yet replenishment cycles could support the Price Index.
Why did the price of Tall Oil Rosin change in September 2025 in APAC?
• Monsoon-driven demand shifts, import parity, and currency effects contributed to net price movement in India.
• Logistics constraints and elevated energy costs increased import costs, supporting price firmness across CFR routes.
• Seasonal restocking and pre-festival buying patterns bolstered demand outlook, reinforcing Price Index momentum in APAC.
Europe
• In Germany, the o-Nitro Toluene (o-NT) Price Index declined by 2.87% quarter-over-quarter, reflecting soft demand from dyes, pigments, and textile sectors.
• The average o-NT price for the quarter was influenced by balanced supply from domestic producers and limited European imports.
• o-Nitro Toluene Spot Price softened slightly as distributors managed existing inventories and deferred purchases amid weak end-user demand.
• o-Nitro Toluene Production Cost Trend remained stable, with toluene feedstock and energy prices largely unchanged, constraining upward price momentum.
• o-Nitro Toluene Demand Outlook was cautious, with slow recovery from textile and coating applications while export orders stayed muted.
• o-Nitro Toluene Price Forecast indicates limited short-term upside, with stabilization likely if seasonal buying in textiles improves.
• European manufacturers optimized output, aligning supply with modest consumption and avoiding excessive stock accumulation.
• Logistics and import flows were stable, providing consistent availability without creating spot shortages.
Why did the price of o-Nitro Toluene change in September 2025 in Europe?
• Weak downstream demand and stable inventories kept market prices on a slightly lower trajectory.
For the Quarter Ending June 2025
North America
• The Tall Oil Rosin Price Index in Q2 2025 experienced a 0.5% increase compared to Q1. The June-end price stood at USD 951/MT CFR Texas, driven by tighter Brazilian supply, rising production costs, and a late-quarter demand pickup from paints and rubber sectors.
• While demand was weak as construction, packaging, and coatings have their peak usage traditionally around this time on queues in April - May moved in response to firmer consumption from paints and rubber in June and tighter Brazilian markets.
• Why did the price of Tall Oil Rosin change in July 2025?
Prices declined due to subdued downstream demand, particularly in construction and packaging, coupled with weaker import activity from China and Indonesia.
• Freight rates on Brazil–U.S. routes edged higher in June due to tighter vessel availability, though port operations at Houston and Savannah remained smooth across Q2.
• Seasonal construction activity and infrastructure spending could support demand, but buyers may remain cautious amid macroeconomic uncertainty.
• Tall Oil Rosin production costs rose in Brazil due to feedstock constraints and processing expenses, tightening exporter margins; however, U.S. prices absorbed increases only partially due to earlier buyer resistance.
• Tall Oil Rosin demand outlook in North America may remain modest in Q3 2025, with seasonal construction and infrastructure activity offering some support, though buyer sentiment could stay cautious amid macroeconomic uncertainties and subdued demand from packaging and coatings sectors.
• The Tall Oil Rosin Price Index is forecasted to remain rangebound in Q3 2025, with firm Brazilian supply constraints providing a floor, while tepid downstream demand and conservative procurement may limit any significant upside movement.
APAC
• The Tall Oil Rosin Price Index in India averaged a decline of around 1.6% in Q2 2025 compared to Q1, closing June at approximately USD 3514/MT CFR JNPT, driven by improved buying interest from the paints and rubber sectors and tightening overseas supply, particularly from Brazil, which offset the earlier bearish trend seen in April and May due to subdued construction and packaging demand.
• Price movements were driven by weak demand in construction, coatings, and paints in April–May, followed by firmer import prices and stable domestic consumption in June.
• Why did the price of Tall Oil Rosin change in July 2025?
Prices fell 1.5% due to lower upstream tall oil costs, subdued downstream activity, and declining import volumes from the USA.
• Imports from the USA remained steady, with smooth port operations at JNPT; however, rising freight costs from North America in June added to landed price increases.
• Tall Oil Rosin demand outlook is expected to gradually recover if construction activity resumes and weather conditions improve, but buyer caution amid macroeconomic headwinds persists.
• Tall Oil Rosin production cost trends were stable through May due to lower U.S. feedstock costs, but June saw higher procurement costs as U.S. export offers strengthened, and freight rates rose.
• Tall Oil Rosin prices are forecasted to stay firm to slightly bullish if U.S. supply tightness and ongoing import pressure continue, although end-use sector sentiment remains tentative.
Europe
• Tall Oil Rosin prices in Europe remained largely stable in Q2 2025, settling slightly lower by June amid persistently weak downstream demand.
• Demand from coatings, adhesives, and rubber sectors stayed muted, while the construction sector showed minimal recovery, capping any upward price momentum.
• Why did the price of Tall Oil Rosin change in July 2025?
A sluggish start to spring demand and leftover inventories from Q1 prevented any significant pricing uptick.
• Logistics remained steady, with easing freight rates from the Red Sea route offering slight relief to landed costs.
• Tall Oil Rosin demand outlook for Q3 stays cautious, with marginal improvement tied to construction season recovery and potential restocking.
• Tall Oil Rosin production costs were steady, but poor downstream offtake and thin margins kept sellers from raising prices.
• Tall Oil Rosin forecast for Q3 2025 sentiment indicates a flat-to-firm market if construction demand revives and supply tightness from U.S. continues.
For the Quarter Ending March 2025
North America
Throughout Q1 2025, tall oil rosin prices in the USA consistently rose, driven by increasing crude tall oil costs and persistent supply constraints. Early in the quarter, prices saw a 5.0% increase, primarily due to higher upstream crude tall oil prices, which led manufacturers to adjust their production strategies. Demand from key downstream sectors such as paints, coatings, adhesives, and rubber remained steady, while the automotive sector contributed to maintaining overall consumption levels.
As the quarter progressed, price increases continued, supported by higher crude tall oil costs. Despite mixed demand from downstream industries, the automotive sector remained a key driver of consumption. Supply remained stable, but logistical challenges and reduced production rates created tight market conditions. Manufacturers carefully managed output to avoid significant price hikes, balancing rising costs with steady demand from various sectors.
By the end of the quarter, supply-side constraints, along with continued demand from the automotive sector, pushed prices up further. The construction sector faced challenges due to tariff-induced cost pressures, but the overall market sentiment remained firm. The combination of tight supply, rising feedstock costs, and steady demand from emerging sectors, such as bio-based applications, helped sustain upward price pressure throughout Q1 2025.
APAC
Throughout Q1 2025, tall oil rosin prices in the APAC region, particularly in India, experienced a consistent upward trend, primarily driven by elevated import costs from the USA. The quarter began with a 5.0% price increase in January due to rising upstream crude tall oil prices and the country’s reliance on higher-priced U.S. imports. Despite steady demand from sectors such as automotive, adhesives, coatings, and paints, supply constraints and global logistics challenges kept the market tight.
In February, prices continued to rise by 1.0%, supported by increased demand across key sectors, including adhesives and automotive, coupled with the ongoing impact of high import costs from the U.S. However, procurement remained cautious as buyers closely monitored pricing trends. By March, prices surged further by 4.0%, driven by continued high import costs and limited domestic availability. The construction sector showed moderate demand due to seasonal purchasing patterns, but overall consumption in downstream sectors remained steady.
Throughout the quarter, while demand remained stable, tight supply conditions and rising global prices led to higher tall oil rosin prices, with downstream industries managing rising expenses through cautious procurement strategies. The market outlook for Q2 2025 suggests that continued global pricing trends will heavily influence future price movements.
Europe
In Q1 2025, the price trend of Tall Oil Rosin (TOR) in Europe was characterized by a continued downward movement, primarily driven by weak demand across key downstream sectors. In January, prices remained steady but low, as demand from industries such as paints, coatings, adhesives, and rubber remained subdued. The European construction sector also showed signs of slowing down, impacting the overall consumption of TOR.
Throughout the quarter, supply-side constraints continued to affect the market. Despite challenges such as high international freight charges and disruptions caused by the ongoing Red Sea crisis, the impact on local prices was limited. Refinery closures and reduced fractionation rates in both the U.S. and Europe added pressure on supply, but these factors did not significantly disrupt the market due to the lack of strong demand from downstream industries.
Overall, the European TOR market in Q1 2025 was marked by a subdued outlook, with weak demand from major industrial sectors and persistent supply-side issues contributing to the price trend.
